Nine bidders express interest in Vitkovice Steel

Nine bidders express interest in Vitkovice Steel

According to recent news in the market, nine bidders have expressed their interest in 99% state-owned steel producer Vitkovice Steel (VS). The bidders which expressed their interest in the Czech steel producer were Russian Evraz Holding, Russian steel producer Severstal, Ukrainian Industrial Union of Donbass (UID), Czech steel producer Trinecke Zelezarny (TZ), the Czech-Slovak investment company Penta, Iran's Safa Industrial Holdings, Luxembourg-based steel producer Arcelor and Global Infrastructure Holdings Ltd (GIHL), subsidiary of Ispat India. Previously US steel producer Nucor Corporation had expressed its interest in the VS. The deadline for the bids has been set as January 31, 2005. The state expects to generate CZK 4.5 billion ($192.8 million) from the sale.