Race for Kryvorizhstal – Ten contenders likely
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Thursday, 13 Oct 2005
Ukrainian PM Mr Yuriy Yekhanurov has informed the local press that ten companies are expected to bid for a 93.02% majority stake in Kryvorizhstal, Ukraine's biggest steel mill on October 24th. The bidders were not identified by the PM.
The companies expected to bid include Mittal Steel, Severstal, US Steel, Evraz, Arcelor-IUD and Interpipe. The full list has not been disclosed as yet.
The starting bid price has been set at $2 billion, well above the $800 million paid last year by a consortium partly owned by Mr Victor Pichuk.
