A new stage has been reached in the sale process of Liberty Galați Steel Complex and its pipe division in Romania.
The consortium of insolvency administrators, Euro Insol and CITR, announced that the current tender round held today has been concluded, while the process of selecting a strategic investor is still ongoing.
The open auction, with a starting price set at €463 million, followed an extensive outreach and engagement process aimed at potential strategic investors across the global steel industry. However, the tender ended without any binding offers being submitted.
Commenting on the process, Euro Insol Chairman Remus Borza stated that discussions with interested investors are still ongoing, and efforts are being made together with creditors to identify the most suitable solution framework. He emphasized that the asset holds not only economic but also significant social importance, underlining that the future of thousands of employees and the local community depends on the outcome of the process.
CITR CEO Paul-Dieter Cîrlănaru noted that the five-month process has revealed an important reality, highlighting that there is tangible investor interest and advanced discussions have taken place with multiple parties. He stressed that the absence of bids does not necessarily indicate a lack of interest, adding that the process is not over. He further stated that responsibilities toward creditors, employees, and the Galați region remain, and that all options are being evaluated in light of continued pressure in the European steel market.
As part of the ongoing process, potential investors have been provided access to all necessary information to allow a detailed assessment of the opportunity.
Meanwhile, the asset monetization process has been supported by a broad international marketing campaign.
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