Romanian troubled steelmaker Liberty Galati at second sale attempt, at reduced price
The consortium of concordat administrators of the Liberty Galați Steel Plant (formerly Sidex), Euro Insol and CITR, resumed the auction for the sale of the troubled company under pre-insolvency procedures for EUR 444 million – down from…
iulian ernst · Journalist
· Updated · 2 min read
The consortium of concordat administrators of the Liberty Galați Steel Plant (formerly Sidex), Euro Insol and CITR, resumed the auction for the sale of the troubled company under pre-insolvency procedures for EUR 444 million – down from EUR 709 million in the first, failed, attempt, according to Profit.ro.
Liberty Galați, formerly Sidex, remains a cornerstone of Romania’s industrial base. The government had already designated Liberty Galați steelworks, alongside Mangalia shipyard and Romaero aircraft services provider, as assets of strategic interest at the end of March, signalling its intention to intervene.
