The Romanian Liberty Galati sheet metal plant will be auctioned on March 12 after the Galati court approves the restructuring plan, insolvency administrators Euro Insol and CITR said.
According to Romanian media reports, the sale price will be 690 million euros.
A total of 13 potential investors expressed interest in acquiring the plant. Market participants named the following potential buyers:
- Ukrainian "Metinvest". Previously, the company considered the possibility of acquiring another Central European plant, Dunaferr, as part of its expansion into the EU.
- Indian Steel manufacturer JSW Steel
- Turkish KMC Steel Sheet Metal Rental Service Center
- Indian Jindal Group. In September, the company submitted a non-binding offer for the German division of Thyssenkrupp Steel Europe.
- The Iraqi Galiawa Group
- Romanian UMB. The company recently acquired ArcelorMittal Hunedoara, a Romanian long products manufacturer.
- The European distribution and trading company Steel Mont. She has already offered to conclude an agreement on the processing of duties and the potential acquisition of Liberty Galati.
In mid-September, the Romanian authorities decided to establish an interdepartmental committee to protect state interests at the Liberty Galati steel mill and prevent bankruptcy.
Liberty Galac has been out of service since a failed restart attempt in June last year. The capacity of the steel mill is 3 million tons per year.
Author: Maria Thanatar
Opisnet.com
