Ilta Inox SpA agreed to acquire ThyssenKrupp Acciai Speciali Terni S.p.A from thyssenkrupp AG (XTRA:TKA) on September 16, 2021. Thyssenkrupp might decide to keep a minority stake in AST, it said. AST employs around 2,700 staff and posted sales of about €1.7 billion in the business year that ended in September 2020. The transaction is subject to approval by the Supervisory Board of thyssenkrupp AG and merger control clearance. Arvedi has announced significant investments in connection with the acquisition of AST. The deal, which also covers AST's associated sales organization in Germany, Italy and Turkey, is expected to close in the first half of 2022. As of December 15, 2021 EU commission has given the green light to for the acquisition.


J.P. Morgan AG acted as financial advisor and fairness opinion provider to thyssenkrupp AG. Alexander Schwarz, Thomas Menke, Reimund von der Höh, Friedrich Baumgärtel, Fabian Mumme, Kai Zimutta, Martin Hitzer, Matthias Gärtner, Katharina Bein, Ingo Brinker, Iris Benedikt-Buckenleib, Ilaria de Lisa, Stefan Mayer Ocka Stumm, Dominik Monz and Frank Schlobach of Gleiss Lutz acted as legal advisor to thyssenkrupp AG. Umberto Penco Salvi, Francesca Casini, Luciano di Via, Simonetta Candela, Christoph Holstein and Sandra Thiel of Grimaldi e Clifford Chance acted as legal advisors to Ilta Inox SpA. Lato tax Arvedi was assisted by Maisto with a team composed of Guglielmo Maisto, Roberto Gianelli andrea Parolini. Andrea Zoppini and Giulio Angeloni of Zoppini participated on contractual aspects to Arvedi Group. Francesco Tedeschini, Andrea Sacco Ginevri, Lorenzo Locci, Giulio Napolitano, Francesco D'Alessandro, Marco di Siena and Marco Serpone of Chiomenti Studio Legale acted as a legal advisor to thyssenkrupp AG. BNP Paribas Fortis SA (ENXTBR:017250539) and BNL acted as the M&A advisors and lender, Claudio Costamagna of CC & Soci S.r.l. acted as the financial advisor and DiniRomiti Consulting acted as the communication advisor. Ernst & Young Corporate Finance Beratung GmbH acted as financial advisor to thyssenkrupp AG (XTRA:TKA).