The largest Bulgarian steelmaker Kremikovtzi has confirmed to SteelOrbis the receipt of proposals for a possible acquisition from both worlds' largest steelmaker ArcelorMittal and from Vorskla Steel Bulgaria EOOD which belongs to Ukrainian businessman Konstantin Zhevago.
Kremikovtzi has stated that both proposals express the intention of taking care of the mill's urgent needs. For its part, ArcelorMittal proposes the fulfillment of short-term and long-term funding requirements. On the other hand, the BoD of Kremikovtzi held a meeting with representatives of Vorskla Steel, during which there was intense pressure to accept Vorskla Steel's proposal.
However, the plant's management board is continuing to consider both proposals and expects to take its decision within a short time based on which of the two proposals best suits the mill's interests.