ArcelorMittal, Intesa and Marcegalia acquired Ilva, an Italian steelmaker, for $2.4bn. Commenting, Lakshmi Mittal, Chairman and CEO, ArcelorMittal, said: “Closing the acquisition of Ilva is an important strategic step for ArcelorMittal. Ilva is a quality asset that provides a unique opportunity to expand and strengthen our European presence by acquiring Europe’s single-largest steelmaking site. It is a compelling value creation opportunity for ArcelorMittal, that fits our objective of selectively investing in growth projects where we can leverage our operating expertise to grow Ebitda and free cash flow over the long-term."