Flacks ready to buy Ilva with state loan
Flacks Group chairman Michael Flacks says he is prepared to acquire Italys troubled Ilva steelworks but requires a one billion euro state loan. The investor expressed frustration with delays from Prime Minister Giorgia Melonis government.
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Flacks Group chairman Michael Flacks offered to acquire Italy's troubled former Ilva steelworks on Monday morning, demanding a €1 billion state loan. The turnaround investor warned that the government must act decisively to rescue the plant. The acquisition hinges on state financial backing as the steelmaker faces mounting legal and environmental hurdles.
