Breaking News


Pilsen Steel, Baummash Owner Eyes Serbia’s Sole Steel Plant

United Group SA, a Luxembourg-based holding comprising Pilsen Steel s.r.o. and Baummash OJSC (BUMM), may invest in Zelezara Smederevo, Serbia’s sole steel mill, the government said.

United is interested in state-owned Zelezara and may negotiate a takeover with the state, said Milos Colic, spokesman for Deputy Premier Jovan Krkobabic, after government officials met with United’s owner, Igor Shamis, in Belgrade today.

Serbia wants to divest Zelezara after U.S. Steel Corp. (X) sold the unprofitable plant back to the government in January for $1.

To contact the reporter on this story: Misha Savic in Belgrade at

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.