ArcelorMittal faces EUR 7 billion Acciaierie d'Italia mismanagement lawsuit in Milan court

• ArcelorMittal faces a lawsuit in Milan from Acciaierie d'Italia’s extraordinary commissioners seeking damages of EUR 7 billion, or EUR 3.65 billion alternatively.
• The claim alleges mismanagement at Acciaierie d'Italia, including intentional value transfers that contributed to insolvency; multiple former directors are also named.
• The group is also contesting related Italian insolvency actions; it has an ongoing arbitration against Italy seeking damages above EUR 1.8 billion.

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