A PYMNTS Company

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

By  |  July 22, 2013

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.