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CORRECTED-Trustee starts sale of bankrupt Slovak steel mini-mill
June 26, 2017 / 2:51 PM / 5 months ago

CORRECTED-Trustee starts sale of bankrupt Slovak steel mini-mill

(Corrects June 26 story to show application deadline is Aug 7, not July 8)

PRAGUE, June 26 (Reuters) - A bankruptcy trustee has started an international tender to sell the assets of Slovakia Steel Mills mini-mill in eastern Slovakia, the trustee firm SSR said.

The mill with annual capacity of 620,000 tonnes of steel billets and a rolling mill operation was opened in 2011 in the eastern town of Strazske, but fell into bankruptcy in 2015, and the operations have been mothballed.

“Subject of the sale of the properties represents mainly the key equipment, buildings, other operating assets supporting the production process,” a sale notice on the trustee’s website said.

Slovakia’s MiddleCap Partners was chosen as adviser for the sale.

Deadline for applications is Aug 7, indicative offers are due on Sept 25 and final offers due on Dec 19 this year.

The firm’s biggest creditor is the state-owned Czech Export Bank, which provided a 168.6 million euro loan for the project. (Reporting by Jan Lopatka)

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