Hungarian steel mill Dunaferr to be privatized by AVP

Hungarian steel mill Dunaferr to be privatized by AVP

Hungary's State Privatization Agency APV is seeking for an investor to privatize steel maker Dunaferr. The investor, AVP is seeking for, is required to provide cash for Dunaferr and keep as many jobs as possible as well. APV plans to privatize 79.5% of the company, however it will propose to the winner of the bid to purchase another 15.4% held by small investors. It is determined that, the deadline for submission of the bids is on October, 2. AVP hesitates to reveal the names of the interested investors, however United States Steel Corp., Anglo-Dutch LNM Holdings, Russian mill Mechel and Germany's Thyssenkrupp AG. are indicated as the possible investors.