Rome

Riva family to pay nearly 1.3 bn in ILVA compensation

Family formerly owned troubled steel plant

Riva family to pay nearly 1.3 bn in ILVA compensation

Rome, November 30 - The Riva family, former owners of the troubled ILVA steelworks that is now managed by government-appointed commissioners, has agreed to pay out nearly 1.3 billion euros in compensation for the environmental clean-up and plant turnaround undertaken by the government, Italian Premier Matteo Renzi announced from his office in a live online broadcast late Thursday evening.

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