Ms Vasil Yanachkov chairperson of Metallurgist trade union to the Confederation of Independent Trade Unions in Bulgaria announced that there are intensive negotiations with Ukraine’s Smart Group over the acquisition of Bulgarian Kremikovtzi steel mill.

She said that “I am informed that during the negotiations with Smart Group a contract for operation in Kremikovtzi for transitional period was worked out until the rest of the parameters concerning the deal are set up.”

Mr Lyudmil Pavlov, from the Podkepa Labor Confederation said that up to now Smart Group was the only one to offer five year recovery program for Kremikovtzi, which envisages gradual acquisition of company’s assets.

Smart Group is ready to invest EUR 220 million in the steel mill over the next five years and modernize all of its units.