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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 msavic2@bloomberg.net

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

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