Ispat offers $310 million for BH Steel

Ispat offers $310 million for BH Steel

According to the statement released by Ispat Group, the company has offered $310 million to acquire 51% stake in Bosnian mill BH Steel. As previously reported by SteelOrbis, Anglo-Dutch LNM Group and Indian Ispat Group have offered bids for BH Steel, which is a joint venture company between Bosnia's Muslim-Croat Federation and the Kuwaiti Investment Agency (KIA). It is stated that, Ispat offered $115 million for 51% stake, $155 million to upgrade the mill and $40 million for environmental projects.