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Ukraine's Metinvest Pulls out of Bidding for Bulgaria's Steel Mill
Business | January 31, 2008, Thursday // 00:00
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Ukrainian investor Metinvest, which was interested in the acquisition of a majority stake in Bulgaria's biggest steelmaker Kremikovtzi, has withdrawn from the sale.
"The owner of Kremikovtzi Corp. said negotiations are underway with two investors and Ukrainian investor Metinvest has withdrawn from the negotiations," Kremikovtzi spokesman Rumen Zankov told the state-run Bulgarian News Agency.
Representatives of US Steel company, the other bidder for Kremikovtzi next to Ukrainian tycoon Konstantyn Zhevago, are currently having a looksee around the Kremikovtzi site.
Ukrainian billionaire Konstantyn Zhevago, tipped as the most likely buyer of Kremikovtzi, landed in Sofia on Wednesday to confer with Prime Minister Sergey Stanishev but refused to comment on the progress that has been made in his negotiations with GSHL.
Pramod Mittal was reported to be also holding negotiations with his elderly brother and competitor, steel magnate Lakshmi Mittal.
"The owner of Kremikovtzi Corp. said negotiations are underway with two investors and Ukrainian investor Metinvest has withdrawn from the negotiations," Kremikovtzi spokesman Rumen Zankov told the state-run Bulgarian News Agency.
Representatives of US Steel company, the other bidder for Kremikovtzi next to Ukrainian tycoon Konstantyn Zhevago, are currently having a looksee around the Kremikovtzi site.
Ukrainian billionaire Konstantyn Zhevago, tipped as the most likely buyer of Kremikovtzi, landed in Sofia on Wednesday to confer with Prime Minister Sergey Stanishev but refused to comment on the progress that has been made in his negotiations with GSHL.
Pramod Mittal was reported to be also holding negotiations with his elderly brother and competitor, steel magnate Lakshmi Mittal.
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