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LNM, US Steel and TISCO bid for Ukrainian producer
London:
The British steel group, LNM, owned by NRI Lakshmi Mittal
and US Steel Corp have formed an alliance to bid for control
of Ukrainian steel producer OAO Kryvorizhstal. The
company is one of the country's most profitable state
assets, which is scheduled to be privatized next month.
Pittsburgh-based
US Steel and LNM, are the world's sixth-and second-largest
steel makers. The two companies have captured virtually
all steel-producing assets privatised in central and Eastern
Europe in the past few years. Also in the running for
the company is Indian major Tata Iron and Steel Co. Kryvorizhstal
produces about 20 percent of Ukraine's metal output.
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