Turkey’s Tosyalı Holding has submitted a bid to acquire Luxembourg-based steel producer Liberty Dudelange, the bankrupt subsidiary of UK-based Liberty Steel, according to media reports. Details of the bid have not yet been published.
Many bids were examined and Tosyalı and another unnamed buyer are in the final stage of the bidding process. If Tosyalı Holding acquires the company, the production capacity of Tosyalı, which has an annual steel production capacity of approximately 15 million mt, will increase in Europe.
At the end of last year, Liberty Dudelange, whose operations had been idle for almost two years, was declared bankrupt by the Luxembourg Commercial Court, as SteelOrbis previously reported.
Liberty Dudelange has two galvanizing lines, two electro-galvanizing lines and a steel service center.