US Steel remains interested in Kryvorizhstal

US Steel remains interested in Kryvorizhstal

US Steel Corp announced that it still wants to acquire Ukrainian steel mill Kryvorizhstal, 93% of whose shares were sold for $800 million to a consortium formed by Ukrainian businessmen Viktor Pinchuk and Rinat Akhmetov. As reported by SteelOrbis at the beginning of this week, the Ukrainian government announced that the privatization of the country's largest steel mill, Kryvorizhstal, will be reviewed since questions arose that the bidding procedure allegedly discriminated against foreign bidders who had offered more than the winner of the auction. Upon the announcement of the Ukrainian government, US Steel officials expressed that they are still interested in purchasing Kryvorizhstal. However, no official announcement regarding the nullification of the sale to Viktor Pinchuk and Rinat Akhmetov's consortium has been made yet.