Posted on 10/24/2005 10:54:39 AM PDT by Mazepa
The State Property Fund announced Mittal Steel Germany Gmbh the conqueror in a contest of 93.02% shares of Kryvorizhstal sale.
As “Ukrainsky Novyny” informs, such a decision was adopted following the results of contest.
Mittal Steel proposed UAH 24,2 milliard, the highest price among three contest participants/ At the same time “Industrial group” (Kyiv) consortium proposed UAH 24,1 milliard and “Smart Group” company (Dnipropetrovsk) – UAH 17,7 milliard.
Mittal Steel Germany Gmbh is a part of international holding Mittal Steel, which is the world biggest steel producer.
Primarily Mittal Steel and “Smart Group” proposed UAH 10,5 milliard, “Industrial Group” – UAH 12,6 milliard, then competitive tendering begun.
The price increment was UAH 100 million.
As is known, in 2004 the consortium “Investment Metallurgical Union”, controlled by Akhmetov’s System Capital Management company and Pinchuk’s “Interpipe” corporation has bought 93.02% shares of Kryvorizhstal for UAH 4,26 milliard (about $800 million).
In 2005 Kryvorizhstal privatization was announced illegal by the court decision. 93.02% shares of this enterprise came back into state property and on August 10 were recurrently tendered with opening price UAH 10 milliard (about $2 milliard).
Three companies filed an application for this tender: Mittal Steel Germany Gmbh, “Smart Group” and “Industrial group”.
Deputy Chairman of the State Property Fund, the Head of the Contest Commission Dmitry Parfenenko held the auction.
Correction: $4.84 bill instead of $800 million- ain't bad.
Only think how many such companies Kuchma sold for pennies to oligarchs like Pinchuk or Akhmedov.
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