Serbia Seeks Partner for Smederevo Steel Plant After Takeover
Serbia said it’s seeking a strategic partner for Zelezara Smederevo, the Balkan country’s only steelmaker, which generated 15 percent of exports before it was taken over by the government this year.
Binding bids by companies involved in mining, minerals, steel or similar businesses and whose revenue exceeded 1 billion euros ($1.32 billion) last year should be submitted by May 4, the government in the capital, Belgrade, said today in an e- mailed statement.
United Group SA, a Luxembourg-based holding company, held talks with Serbian officials to possibly take over the plant, located southeast of Belgrade, the government said last month. The administration repurchased the unprofitable plant in January from U.S. Steel Corp. (X) for $1.
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