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EU: Leading steel plant sees disappointing interest with only one buyout bid

By  |  July 22, 2013
EU: Leading steel plant sees disappointing interest with only one buyout bid

One of Europe’s largest steel plants, the Finnish Outokumpu, based in Italy, has seen limited interest as sources say only one firm bidder has emerged, contradicting earlier reports of two binding bids for the entity. Reports say steel company Aperam has made the sole binding offer for the plant after Outokumpu agreed to sell it following its acquisition of ThyssenKrupp’s Inoxum. The Finnish firm has now twice requested an extension of the bidding deadline, declaring current offers “unsatisfactory.” Despite only one reported binding bid, earlier reports said four companies had been interested in the plant, including private equity funds Apollo and One Equity partners.

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    Full Content: Reuters

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