The ArcelorMittal/Marcegaglia consortium offer for Italy’s Ilva is believed to be some 20% higher than that of the JSW-led consortium Kallanish learns from reports in the local Italian media.

As previously reported, the administrators are now evaluating the offers received as the bidding process has closed. While the value of the offers have not been disclosed, ArcelorMittal and Marcegaglia confirmed that in addition to the purchase price they will invest some €2.3 billion ($2.47 billion) in Ilva.

An official valuation of the Ilva assets has not been made public during recent years. Sources in the market however have reported a possible valuation at some €400 million.

Media reports also noted this week that the two consortia bidding for Ilva have been approached by European antitrust authorities regarding their bids. This is to establish the effect of their valuation of any possible Ilva purchase on the European market.