Latvia’s KVV Liepajas Metalurgs to be sold in parts through auctions

Latvian authorities are planning to sell the country’s sole steelmaker, insolvent KVV Liepajas Metalurgs, at auction in several parts, Metal Bulletin has learnt.

The insolvency administrator made the decision because none of the company’s potential investors met the requirements set by the company’s secured creditors. Nor could they provide the required guarantees that would prove their ability to acquire KVV Liepajas Metalurgs in one piece and relaunch its operations, according to Latvian newspapers LETA, Delfi and LSM.

As a result, the steelmaker’s assets will be sold...


Maria Tanatar

January 17, 2018

11:50 GMT