Three investors bid for Kryvorizhstal
Ukrainian privatization authorities announced that three investment groups had submitted bids by yesterday's deadline for
Ukraine's largest steel mill, Kryvorizhstal.
The bidders will officially be announced tomorrow. Nevertheless, according to unofficial reports the three bidders are Rotterdam based Mittal Steel, Ukrainian LLC Smart Group, and Industrial Group consortium formed by
Luxembourg based Arcelor and Ukrainian Industrial Union of Donbas.
The deadline for bids expired yesterday, and the auction will be held next week with a beginning price of $2 billion. The three investors are far fewer than the ten bidders previously expected.
The bidders each paid $199 million in advance to participate in the tender.