Kiev prices steel mill at $2 billion

Published: 12 August 2005 y., Friday

The Ukrainian government on Tuesday set a $2 billion starting price for a 93.2 percent stake in the country's most profitable steel mill, more than doubling the price at which the mill was sold last year in a disputed privatization deal.
 The State Property Fund also said in a statement that the winning bidder for the Kryvorizhstal steel mill would be obligated to invest $2.3 billion between 2006 and 2013 for unspecified improvements. The mill is to be auctioned in October. The government statement offered no further details.
 Kryvorizhstal was sold last year for $800 million to a consortium controlled by Rinat Akhmetov, the wealthiest man in Ukraine, and Viktor Pinchuk, a son-in-law of the former president, Leonid Kuchma.
 Other major steel companies, including Severstal of Russia and United States Steel, claimed that they had made substantially higher bids than the consortium did for the mill, of around $1.2 billion.
 After a long legal battle, the new government headed by President Viktor Yushchenko seized control of the mill in June, calling the earlier sale a theft. 

Šaltinis: iht.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Gas Coordination Group discusses security of gas supply in the light of the current winter situation in Europe

In its first meeting in 2010, the Gas Coordination Group, under the chairmanship of the Commission, has focused today on the assessment of the situation on security of gas supply in the EU-27 and countries of the Energy Community and discussed priorities for the work of the Group in 2010. more »

Van den Brande welcomes Van Rompuy's commitment to multilevel approach to economic recovery

Luc Van den Brande, President of the EU Committee of the Regions (CoR), has used his first meeting with the President of the European Council, Herman Van Rompuy, to underline the importance of consultation between local, regional and national authorities. more »

Cameroon Firms Look to Hydro to Help Close the Power Gap

Basile Nkwesi, Directeur Commercial of Multiprint, speaks for dozens of frustrated business managers in this busy enterprise center when he talks about Cameroon’s costly and unreliable electricity. more »

In 2009 Bank SNORAS attracted 2400 new corporate clients

During 2009, over 2400 new corporate clients, whose total number currently exceeds 16 thousand, began using Bank SNORAS services. more »

Spain: in 2009 the EIB provided EUR 2.5 billion to finance SME and municipality projects

In 2009, the European Investment Bank (EIB) provided EUR 2.5 billion in 16 credit lines for financing the investment projects of SMEs (EUR 1 955 million) and local authorities (545 million) in Spain. more »

Euro coin counterfeiting in 2009

In 2009, the number of counterfeit euro coins removed from circulation was 172 100, down from 195 900 the year before. more »

Haiti Begins Participation in the IMF’s General Data Dissemination System

Haiti began participating in the International Monetary Fund’s General Data Dissemination System on December 28, 2009, marking a major step forward in the development of its statistical system. more »

In 2009 the price of Bank SNORAS shares grew by 163 per cent

According to the data of NASDAQ OMX Vilnius Stock Exchange, the price of Bank SNORAS registered ordinary shares grew by more than 2.5 times. more »

Commission clears proposed acquisition of Cadbury by Kraft Foods, subject to conditions

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Cadbury PLC of the UK by Kraft Foods Inc. of the US by way of public offer. more »

Changes in construction input prices in November 2009

Statistics Lithuania informs that construction input prices inNovember 2009, against October, dropped by 0.5 percent. more »