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Mittal to buy Kryvorizhstal for $4.79 bln
Journal Staff Report

KIEV, Oct. 24 - Mittal Steel, the world’s No. 1 steel producer, won the auction to acquire a 93% stake in Kryvorizhstal, Ukraine’s largest steelmaker, by offering 24.2 bln hryvnias, or $4.79 bln, a government spokesman said Monday.

Mittal defeated Arcelor, the world’s No. 2 steelmaker, and a local steel trader Smart-Group in a fierce competition broadcast live by Ukrainian television to make the bidding transparent.




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