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Six buyers put forward for Liepajas Metalurgs take over sale

Aug 01, 2014
From wire reports, RIGA

Six buyers put forward for Liepajas Metalurgs take over sale

Six investors have submitted bids to buy the insolvent metallurgical company Liepajas Metalurgs.

Investor offers will be analyzed in detail on August 31.  Liepajas Metalurgs was ruled insolvent in November 2013. Over 1,500 employees lost their jobs after the company went bust. 

The bids have been submitted by investors from Eastern and Western Europe, the company's insolvency administrator Haralds Velmers said in a statement.

Russian firm Afina Pallada said it was ready to buy Liepajas Metalurgs for up to  37 million euros last year. It's unknown whether the firm is one of the interested parties. 

(Edited by Rayyan Sabet-Parry)

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