The auction for the sale of the insolvent KVV Liepajas metalurgs rolling mill equipment was concluded with the victory of Austrian Smart Stahl GmbH, as confirmed by insolvency administrator Guntars Koris.
The Austrian company won the auction with its price of EUR 1.57 million (without VAT) or EUR 1.9 million (with VAT).
Koris says that there have been three contenders in total: Austrian Smart Stahl GmbH and Latvian companies SIA Tolmets and SIA FeLM.
The initial price of the assets was set at EUR 1.33 million.
Smart Stahl GmbH was founded in April 2017 with a base capital of EUR 35,000. The company’s sole owner is Cyprus-based Segoa Ventures Limited. Smart Stahl GmbH is described as a holding operating in the field of steel production, trade, management and IT services.
February 26 marked the beginning of the auction for the sale of steelworks assets belonging to KVV Liepajas metalurgs, as well as four pieces of real estate property owned by the company. The initial price of the electric ironmongery department located in Liepaja, Brivibas iela 94, and all associated equipment is set at EUR 5.35 million.
Auctions have also commenced for assets owned by KVV Liepajas metalurgs located in Liepaja on the following addresses: Brivibas iela 92A, Brivibas iela 94A, Brivibas iela 100 and Brivibas iela 100B. The total price of all four pieces of property is EUR 313,000.
All auctions are held electronically at izsoles.ta.gov.lv. Auctions will be closed at 13:00 on March 28.
KVV Liepajas metalurgs was declared insolvent in September 2016. (BNN/Ukrainian metal)