GSHL to complete Kremikovitzi acquisition soon
Indian steel producer Global Steel Holdings Ltd (GSHL) is on the verge of closing the deal to acquire Bulgaria's largest steel plant, Kremikovitzi. GSHL completed negotiations regarding the Krmikovitzi acquisition in February 2004. Finmetals currently holds a 71% stake in Kremikovitzi, while the Bulgarian state holds a 25% stake. Corporate clients account for the remaining 4% stake. GSHL will acquire Finmetals' shares in the Bulgarian plant, which produces 2.3 million tons of steel per annum. GSHL plans to invest €300 million in the plant.