Severstal to bid for VS under global expansion plan

Severstal to bid for VS under global expansion plan

Russian steel producer Severstal has recently announced that it will bid for Czech steel producer Vitkovice Steel (VS) following the announcement of the tender for the sale of VS. Czech government has announced that the privatization plan is ready; however it must be approved by the cabinet. As previously reported by SteelOrbis, certain analysts forecasted that the value of VS is around $200-250 million, however the government is not expected to insist on these levels as it wants to sell off its stake in VS. It is stated that Severstal will bid accordingly.