Overview
- State-appointed commissioners began an exclusive negotiation with Flacks Group, with any final agreement to be submitted to the government for approval and a target decision by early 2026.
- Flacks’ proposal pairs a symbolic €1 purchase with up to €5 billion in investments and an industrial plan for roughly 8,500 jobs, with the state holding 40% and Flacks retaining an option to acquire an additional 40%.
- The Prosecutor’s Office in Taranto again rejected the request to lift the seizure of blast furnace 1, keeping it shut since a May fire and leaving the plant operating at reduced capacity with only furnace 4.
- Trade unions warned of job losses and questioned the buyer’s industrial track record, demanding urgent meetings and stronger binding public guarantees on employment, decarbonization and environmental remediation.
- Flacks announced on LinkedIn that it had reached an agreement with the Italian government, while official accounts characterize the process as an exclusivity phase subject to negotiation and approval.