It has been reported that Lakshmi Mittal, CEO of the world's largest steel producer ArcelorMittal, may join the race for the acquisition of the loss-incurring Bulgarian steel mill Kremikovtzi.
According to reports, Mr. Mittal has submitted a letter of intent to the Bulgarian prime minister stating his interest in acquiring the mill in question. In addition, in his letter, Mr. Mittal has expressed his readiness to carry out all necessary environmental upgrades to enable Kremikovtzi to meet EU standards.
Apart from Mr. Mittal, the main shareholder of the Ukrainian iron ore group Ferrexpo, Mr. Konstyantin Zhevago, has also confirmed his interest in Kremikovtzi.
In addition, Ukraine's Metinvest, Turkey's Erdemir, U.S. Steel Corp. and Swiss Duferco Group are also reportedly in talks with the current owner of Kremikovtzi, India's Global Steel Holding Ltd, with a view to acquiring the mill.
Meanwhile, upon inquiry by SteelOrbis, Kremikovtzi declined to comment on the mill's sale and on the identity of possible bidders.