14 June 2004 07:20
Severstal wants Krivorozhstal privatization to be revised
KYIV. June 14 (Interfax-Ukraine) - Russia's steel manufacturer Severstal hopes for a revision of the results of
Ukraine's tender which sold a 93.02% stake in Krivorozhstal, Ukraine's largest steel producer, to the
Kyiv-based Investment Metallurgical Union.
"We have never had the kind of problems we have faced in
Ukraine after announcing our decision to bid in a tender
A Severstal press release quoted the chairman of the company's board of directors Alexei Mordashov as saying
that Severstal is an open transnational company, which is a member of a consortium with Arcelor, the world's
biggest steel maker.
involving such a major industrial asset as Krivorozhstal," Mordashov said.
Severstal is ready to pay $1.2 billion for the Krivorozhstal stake, which is more than tender winner's bid.
Mordashov said he is surprised at critical remarks voiced both by some media outlets and the Ukrainian State Property
Fund.
"To put it mildly, the way Ukraine's certain executive bodies organized and held the tender to privatize
Krivorozhstal came as a surprise both to us and our partners. The tender's terms were plainly discriminatory both
against non-residents and Ukrainian citizens. We also have strong doubts that the way the tender was held was in
compliance with Ukrainian legislation and international law," he said. [RU EUROPE EEU EMRG UA ENK] tm
[Interfax] |
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