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).