Mittal Steel launches Erdemir bid

Mittal Steel launches Erdemir bid

Mittal Steel announced yesterday that it officially commenced its bid to acquire Turkish integrated steel producer Eregli Demir Celik TAS (Erdemir). A Mittal Steel official said that the company acquired the list of privitization conditions and had begun carrying out its examination of Erdemir. As previously reported by SteelOrbis, the tender for a block sale of a 49.29 percent stake in Erdemir was launched on May 24, 2005. The deadline for bids is September 26, 2005. Arcelor, Corus, US Steel, Severstal, and Novolipetsk have also expressed their interest in Erdemir, as have Turkish companies Borusan and Kibar Holding.