Abramovich Possibly Interested in Acquiring US Steel Kosice
The announced planned sell-off of steelworks U.S. Steel Kosice this week has produced at least two bidders, according to Hospodarske Noviny.
One of the two interested parties is allegedly Russian oligarch Roman Abramovich, better known to most as the owner of Chelsea football club. Abramovich’s interest is due to his metallurgy company Evraz, as it is planning expansion on the East-European market, and the plant in Kosice would be an ideal acquisition.
Another bidder could be Ukrainian steelworks holding Metinvest, which sent a team of inspectors there in June, according to HN.There are also speculations that German company ThyssenKrupp is interested in the acquisition.
The plant of U.S. Steel Kosice is huge, which is why it is the biggest employer in the country with 11,000 employees. It received various advantageous 10-year tax breaks and stimuli as a result, which have now run out (2010), and the US owners are now doing the same. They put the decision down to its first losses and stronger market competition.