Troubled Italian steel company Acciaierie d’Italia (a firm of which ArcelorMittal Italy Holding has 61.9% and Italian Government‘s Invitalia 38.1%) is exploring several options for rescuing the business and is looking for 450 million euros worth credit lines (see here a previous post by BeBeez). The company would invest such resources in its working capital, the refinancing of an unpaid credit line of 250 million that received from UniCredit and in paying 100 million for a first instalment for energy supplies. In early November 2023, the workers representatives of Acciaierie d’Italia will meet the Italian Government for discussing the company’s situation, Michele De Palma, the head of Fiom-Cgil union, said to BeBeez.
In mid October 2023, Genova Court accepted the debt restructuring proposals that troubled Italian football team UC Sampdoria tabled earlier in August 2023 (see here a previous post by BeBeez). The club’s new owners Andrea Radrizzani and Matteo Manfredi will now be able to pour cash in the team and launch a capital increase. Sampdoria will pay 75% of its financial and non-financial debts and past dues with Agenzia delle Entrate (the Italian Inland Revenues). UC Sampdoria retained Legance, PwC Deals, PwC TLS, and DLA Piper. Radrizzani and Manfredi also reportedly negotiated with Banca Sistema and Macquaire Group the issuance of a bond whose first tranche is worth 30 million.
