Romania’s troubled steelmaker Liberty Galati for sale in auction this March
Romania’s integrated steel mill Liberty Galati, which has incurred deep losses starting in 2022, is to be sold in an international auction on March 12 with a starting price of EUR 690 million, after an inter-government committee has…
iulian ernst · Journalist
· Updated · 2 min read
Romania’s integrated steel mill Liberty Galati, which has incurred deep losses starting in 2022, is to be sold in an international auction on March 12 with a starting price of EUR 690 million, after an inter-government committee has approved the restructuring plan on January 28. The court has cleared the restructuring plan and rejected a request to terminate the pre-insolvency preventive composition procedure, effectively rejecting the insolvency scenario.
Both rulings by the court can be appealed within 7 days.
