Turkey’s Tosyalı Holding has withdrawn from acquiring Luxembourg-based steel producer Liberty Dudelange, the bankrupt subsidiary of UK-based Liberty Steel, according to media reports.
In January, Tosyalı submitted a bid to acquire Liberty Dudelange and was in the final stage of the bidding process, as SteelOrbis previously reported.
The withdrawal has led to concerns for 130 employees who have not being paid for months.
Liberty Dudelange has two galvanizing lines, two electro-galvanizing lines and a steel service center.