Smederevo steel mill looking for partner

Smederevo steel mill looking for partner

The Ministry of Finance has issued a public call for a strategic partner for the Smederevo steel mill, based on the conclusions adopted by the Serbian government , and the deadline for bids expires May 4.

Detailed information related to the transaction, possible visits to the company and learning about its operation can be found in the instructions for bidders, which will be available to all participants who sign a contract on keeping confidential information and pay a EUR 10,000 fee for the transaction documents.

The right to bid is reserved for all interested parties which are involved in the exploitation of metal or other ores or the production of pig iron, coke, steel or ferroalloys.

Bids can be submitted by legal entities which recorded revenue of at least EUR 1 billion in 2011, at a consolidated or non-consolidated level, or whose assets were worth a minimum of EUR 1.5 billion on December 31, 2011.

The bids must contain a business plan for the company and an investment program for a period of five years following the closing of the transaction.

In late January, the Serbian government purchased the Smederevo steel mill for USD 1 from U.S. Steel which decided to pull out of Serbia after eight years due to poor business results.