08 June 2004 09:10
COURT SUSPENDS KRIVOROZHSTAL TENDER
KYIV. June 8 (Interfax-Ukraine) - Kyiv's Goloseyevsky District Court has suspended a tender for 93.02% of the
shares in Krivorozhstal, Ukraine's biggest steel mill. A conference is expected on Tuesday afternoon at the
Ukrainian Property Fund with bidders to find a way out of the situation, an informed source told Interfax. The
fund's press service said the court is handling protests against three of its orders concerning
Krivorozhstal's privatization. "Under Ukrainian law, the filing of complaints suspends the effect of
orders," it said. There are reportedly six bidders in the tender. The Ukrainian Industrial Group consortium and
Russia's Severstal, acting on behalf of Arcelor, a Europe- wide steel group, and Severstal North America, have
announced their bids.
The other presumed bidders are India's TATA Steel, the consortium of LBM Group and U.S. Steel, Russia's
Evrazholding, and the recently established nine-member Investment-Metallurgical Union Corporation, based in
Dniepropetrovsk. Krivorozhstal is capable of turning out more than 6 million tonnes of rolled steel products, about 7
million tonnes of crude steel, and 7.8 million tonnes of pig iron a year.
[Interfax] |
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