US Steel confirms expressions of interest in Slovakian flat steel subsidiary, China's Hesteel in running

US Steel has received multiple expressions of interests in its integrated steel mill and coke batteries in Slovakia, a company spokeswoman said on Wednesday September 17.

But while the Pittsburgh-based steelmaker owes it to its shareholders to investigate all such opportunities, “no decisions have been made at this time”, she told Metal Bulletin sister publication AMM. Her comments came after Bloomberg reported that US Steel had agreed to sell its Slovakian subsidiary, US Steel Košice, to China’s Hesteel (formerly known as Hebei Iron & Steel) for $1.40 billion. “I will not comment on unsubstantiated media reports,” the spokeswoman said. Local media in Slovakia reported in January that US Steel and Hesteel had signed a Memorandum of Understanding (MoU) related to the purchase of US Steel Košice for €1.4 billion. And Czech steelmaker Moravia Steel was named as another potential buyer...

Published

Michael Cowden

September 27, 2017

21:31 GMT