Serbia Extends Deadline Again in Sale of Smederevo Steelworks
The second extension in two months is a result of “interest from participants in the tender who need more time” before deciding on a bid, government spokesman Danijel Apostolovic said in a phone interview. The previous deadline was today for the plant that Serbia bought back from U.S. Steel Corp. (X) for $1 in January.
He declined to name the possible buyers. The government said in April these include Ukraine’s Donetskstal-Metallurgical Plant, Russia’s Ural Mining and Metallurgical Company Co OJSC and Luxembourg-based United Group SA comprising Pilsen Steel Sro and Baummash OJSC.
Sale of the unprofitable plant in Smederevo is a priority for Serbia as it faces decline in foreign direct investments and needs to improve its finances amid a widening budget deficit and a slowing economy.
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