According to local media reports, Naron, Spain-based crude steel producer Megasa has made a new offer to US-based global investment firm Kohlberg Kravis Roberts (KKR), the current owner of Grupo Gallardo Balboa S.L.U, in order to acquire the steelmaker which employs 900 people and is on the verge of bankruptcy.
Megasa stated that it commits to keep all Gallardo Balboa's companies and staff, pay the company’s debts and make investments to modernize the facilities, with this new offer, after the Gallardo Balboa works council, which prefers the company to be sold to Cristian Lay as it has made an offer to take over the entire company, expressed its concerns about the Megasa purchase bid.