Mittal Steel wins Kryvorizhstal tender
Mittal Steel, the world's largest steel producer, has won the tender for the privatization of a 93.02 percent stake in Kryvorizhstal,
Ukraine's largest steel mill, with a bid of $4.8 billion.
This is the second time the mill went up for auction.
As previously reported by SteelOrbis, Kryvorizhstal was sold to two Ukrainian businessmen, Viktor Pinchuk and Rinat Akhmetov, for $800 million in 2004 even though foreign companies had bid nearly twice that for the mill. However, upon complaints filed by various parties, a Ukrainian court ruled that the privatization of Kryvorizhstal was illegal.
The starting price for the tender held today was $2 billion.