On April 17, a consortium including UK-based premium steel manufacturer British Steel, UK-based investment company Greybull Capital and Estonian company Baltic Metal Holding sent a letter to the insolvency administrator of the Latvia-based bankrupt steelmaker KVV Liepajas metalurgs to express their intention to buy the company as a whole, according to media sources.
The consortium first sent a letter to the officials of KVV Liepajas metalurgs in February this year, stating that it plans to invest around €60-75 million in the modernization of the equipment at the plant.
Meanwhile, in March this year, Austrian company Smart Stahl GmbH won the auction for the rolling mill of bankrupt KVV Liepajas metalurgs by offering €1.9 million.
Media reports stated that Vita Dika, the insolvency administrator of KVV Liepajas Metalurgs, has not commented on the letter sent by British Steel.