LNM and US Steel consortium bids for Krivorozhstal

LNM and US Steel consortium bids for Krivorozhstal

According to the statement released by LNM Holdings today, the consortium including LNM Holdings and United States Steel Corp (US Steel) has offered bid for Ukrainian steel mill Kriyviy Rih Mining and Smelting Plant (Krivorozhstal). The consortium also includes Ispat Karmet in Kazakhstan and Ispat Polska Stal in Poland, which are part of LNM Holdings. LNM Holdings and US Steel plan to invest heavily on the plant and increase annual capacity of the plant to over 10 million tons. The tender will be held for the sale of 93.02% share of Krivorozhstal and the initial price for the tender is determined as UAH 3.8 billion ($716 million).