Arcelor gives up bidding for Krivorozhstal

Arcelor gives up bidding for Krivorozhstal

Luxembourg based steel producer Arcelor has recently announced that it gave up the idea of bidding for 93.02% shares of Krivorozhstal. As previously reported by SteelOrbis, Arcelor and Russian steel producer Severstal would jointly bid for the Ukrainian steel maker. Severstal's bid still keeps its validity. Arcelor officials stated that, on the condition that Severstal's bid emerges as the successful bid, Arcelor may consider joining Severstal as a minority partner later.