Italian government commissioners running ILVA on Friday extended from May 30 to June 23 the deadline for bids to be presented to buy the troubled steelmaker.
The operation will, however, still have to be closed by June 30, they said. Investment bank Leonardo & Co has been charged with assessing the ILVA group's value, according to a decree from the industry ministry. State-controlled investment bank Cassa Depositi e Prestiti (CDP) has been meeting with various companies interested in joining it in rescuing ILVA.
CDP is "evaluating potential future partners and their turnaround and development projects" for ILVA. Any such deal would see CDP as "a financial partner with a minority share" in the steelmaker, with "the presence of at least one industrial partner as a prerequisite", the sources said.
A court this year declared ILVA insolvent, with debt totalling nearly three billion euros. The company has been put up for sale after the court-ordered seizure of assets at its highly polluting Taranto plant, which is being cleaned up.
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