Russia’s Uralvagonzavod May Buy Serbian Steel Plant, Blic Says

NPO Uralvagonzavod OAO, a Russian state-owned maker of battle tanks and railcars, will probably buy Zelezara Smederevo d.o.o., Serbia’s sole steel plant, Blic reported, citing an unidentified person.

The Serbian government, which invited bids for Zelezara on Oct. 8, has been negotiating with Uralvagonzavod for weeks, as it seeks an investor for the unprofitable plant that it bought back from U.S. Steel Corp (X) in January, according to the newspaper.

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.net

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