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Romania’s Galați steel mill for sale through direct negotiations starting at EUR 200 mln
The creditors of Romanian steel plant Liberty Galați have approved a plan to sell the company, together with its subsidiary Liberty Tubular Products Galați, through direct negotiations starting at EUR 200 million (excluding VAT), according to media reports.
iulian ernst · Journalist
· 2 min read
The new owner will have to secure financing to prepare the equipment for a new production cycle, purchase raw materials, and resume production, Economica.net and Adevarul.ro reported.
The first two international auctions started at EUR 709 million and EUR 463 million, respectively, but failed to attract buyers, despite five prospective bidders expressing interest. The asset valuation subsequently dropped to around EUR 182 million.
