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Kryvorizhstal became the German-Indian

October 25 2005

Took place in Kiev on the eve of an auction to sell 93.02% stake in Ukraine's largest steel plant Kryvorizhstal.

The auction was held in the presence of Viktor Yushchenko and Prime Minister Yuriy Yekhanurov. As a result, for 24.2 billion hryvnia (4.8 billion dollars) the company has bought a German-Indian company Mittal Steel Germany GmbH.

Former owners of the company - led by FC Shakhtar Rinat Akhmetov and the son-in-ex-preizdenta of Ukraine Leonid Kuchma Viktor Pinchuk back $ 800 million, paid by them for Kryvorizhstal earlier. It promised to Yuriy Yekhanurov.

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