Donbass wins the privatization tender

Donbass wins the privatization tender

According to recent market reports, Ukrainian steel producer Donbass Industrial Corp. has been selected as the best bidder in the privatization tender of Hungarian steelmaker Dunaferr by Hungarian privatization agency APV. The other bidders were; Brazil's Companhia Siderurgica Nacional (CSN), Ukraine's Alchevski Steel, Russian steel producer Severstal, LNM Holdings and Czech subsidiary Ispat Nova Hut. Donbass will pay about Hungary Forints 100 billion ($473 million) for the next five years, including the purchase price, investments and capital injection. Donbass has also agreed to maintain Dunaferr's current level of employee for at least five years. Donbass has twenty one days to sign the sales agreement. After the twenty one days, AVP will start to negotiate with LNM Holdings.