Interfax-Ukraine reported that Vorskla Steel Bulgaria, part of the Finance and Credit industrial and financial group controlled by Ukrainian businessman Mr Kostiantyn Zhevaho who is a majority shareholder in the Ferrexpo ore company, plans to take part in a public tender to buy the assets of the bankrupt Bulgarian steel giant Kremikovtzi.

Mr Maksym Prasolov the press spokesman of the Finance and Credit Group told Interfax-Ukraine on July 30th referring to Vorskla Steel Bulgaria CEO Mr Viktor Demyanyuk that the mill property would be sold under a ruling of the Sofia City Court and the company plans to take part in the sale.

He said that "We'll take part in it, but there is no well-defined opinion on the value of the mill. We have information that the price is overstated. He did not disclose how much the company would be prepared to spend on buying the mill.”

As reported, the Sofia City Court put the Kremikovtzi property up for sale at an initial price of over USD 350 million. Around 5,000 people work at the steel mill.

(Sourced from Interfax-Ukraine)