After the meeting that took place at the end of August 2017, British Steel, which had previously voiced an interest in KVV Liepājas metalurgs, refused to purchase the bankrupt company, says Liepaja City Council chairman’s advisor for public relations matters Andrejs Rjabcevs.
Last week Liepaja City Council chairman Uldis Sesks refrained from commenting the matter with British Steel intention to purchase Liepaja’s company, because no talks were held with the British company. The meeting was held on August 23, 2017 and British Steel representatives did visit Liepaja and its company.
Rjabcevs confirms that there was a meeting, and that the Privatization Agency had organized the sale of the steel production plant as a single whole.
“The British company had officially refused to participate in the sale. Since then we’ve had no information about any further developments. We have received a new offer, however,” said the city council’s representative.
The new offer has nothing in common with the municipality. The administration is not involved in communication with the possible investor “and has no reason to”.
As it is known, British Steel-led consortium has once again voiced a desire to purchase all of KVV Liepājas metalurgs property.
According to available information, British Steel Consortium first voiced its interest in February. In a letter sent to officials supervising KVV Liepājas metalurgs, British Steel mentioned that restoration of the company’s operations would require replacing existing rolling mill. The company also declared it is prepared to invest 60 to 70 million euros into procurement of new equipment.
It is mentioned in the letter that British Steel is prepared to sign a memorandum of intent with the current owners of KVV Liepājas metalurgs on the purchase of the company’s assets.
Liepaja municipality refrained from commenting on the company’s intentions because no talks were held and because there is not enough information. (BNN/Ukrainian metal)
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