The consortium of administrators of the preventive restructuring procedure of the Liberty Galaii metallurgical plant (formerly Sidex) – Euro Insol and CITR – resumed the auction for the sale of the enterprise for 444 million euros, which is less than 709 million euros during the first unsuccessful attempt, Romania-Insider reports.
Liberty Galaii, formerly Sidex, remains a key element of Romania's industrial base, next to the Mangalia shipyard and the Romaero aviation service.
No bids were submitted at the first auction, although five potential buyers purchased the tender documents: Metinvest (Ukraine), UMB Group (Romania), KMC (Turkey), as well as Indian JSW and Jindal Group.
According to the documents, the company's market value after the first auction was revised to 3.23 billion lei (620 million euros), and the liquidation value to 1.9 billion lei (365 million euros) after excluding the value of non–core assets (in particular residential buildings) that have already been sold or do not belong to the company (for example, facilities built by Linde on the territory of Liberty Galaii).
The company's main debts are to Exim Banca Românească in the amount of 1.5 billion lei, resulting from the attraction of two loans in the amount of 292 million euros for the resumption of operations.
The second largest creditor is the National Agency for Fiscal Administration (ANAF) – 273 million lei, as well as another 417 million lei, which are being challenged in court.
In general, as of April 2026, Liberty Gala's debts amounted to almost 3.4 billion lei (650 million euros).
