The Italian government had decided to place Italian steel company Acciaierie d'Italia (ADI, formerly Ilva) into special administration despite protests from major shareholder ArcelorMittal.

Acciaierie d’Italia is a joint venture between ArcelorMittal and state-owned Invitalia. ArcelorMittal owns 62% of ADI’s shares and Invitalia owns the remaining 38%. ArcelorMittal considers Invitalia's move to place ADI under special administration a serious breach of the investment agreement.

ADI has only one blast furnace in operation since the No. 2 blast furnace ceased production at the end of January. The company's annual production of crude steel in 2023 was 3 million tons, well below the expected break-even annual production of 6 million tons.

Currently, the Italian government is formulating the terms and conditions of this special management procedure and will appoint an ADI emergency commissioner to take over the operation to ensure the continuity and restoration of operations of the company.