Severstal and Arcelor to take part jointly in Krivorozhstal tender

Severstal and Arcelor to take part jointly in Krivorozhstal tender

According to recent news in the market, Russian steel producer Severstal and Luxembourg based steel producer Arcelor is to bid jointly for Krivorozhstal. SteelOrbis previously reported that Severstal and Arcelor planned to take part jointly in Krivorozstal tender, now it is certain that the two will bid jointly. The consortium plans to invest 1 billion to Krivorozhstal. Initial price for Krivorozhstal tender is determined as $716 million and eight investors have expressed their interest in the tender so far.