Severstal may bid for Krivorozhstal

Severstal may bid for Krivorozhstal

According to recent news in the market, Russian steel maker Severstal is in preparation of submitting a bid for Ukrainian steel maker Krivorozhstal. As previously reported by SteelOrbis, sale of Krivorozhstal in 2004 was confirmed by State Property Fund. Severstal also bid for Rouge Steel last week and accepted, however its bid previously submitted for Dunaferr failed. Krivorozhstal is a producer, which meets 20% of Ukrainian total steel production. Severstal may bid for Krivorozhstal, however according to some sources Severstal will probably fail, as Russian and Ukrainian producers are rivals. Accordingly, it is stated that the winner of the sale will more probably be one of Ukraine's financial-industrial groups.