Bulgarian authorities are going for a third time to try to sell the assets of the country's largest steel Kremikovtzi Steel.

Contrary to expectations, as per some experts, the only potential buyer of the asset can be a Ukrainian businessman Mr Konstantin Zhevago, although his participation in the contest in question. The reason for that is inflated the price of an asset, as well as large debt that is several times higher than the cost of the plant.

Metallurgical erstwhile pride of Bulgaria, Plant Kremikovtzi, is now in a deplorable state. Bulgarian authorities have very different methods of trying to return the plant to life, but who want to revive the steel giant is not so much. And these few brave souls while thoughtfully are scratching their heads.

The first auction of assets of plant took place on September 13th 2010. The starting price was USD 377 million. For the second auction, on November 5th 2010, the starting price was reduced by 20% to USD 325 million. The third auction is scheduled for February 7th 2011. Experts believe that this time the plant will be the starting price of about USD 290 million, but that's interested in whether such an offer investors to predict no one has yet taken.

(Sourced from www.minprom.ua)