Smart Group backs away from Kremikovtzi acquisition talks

The Bulgarian Economy Ministry said yesterday that Ukraine’s Smart Group has halted discussions on the acquisition of the Kremikovtzi steel mill, Bloomberg reported. According to the Bulgarian Economy Ministry note, bondholders rejected an offer by Smart – and Smart said it was unable to raise its offer. Kremikovtzi is 71% owned by Global Steel Holding (UK) and 29% by the Bulgarian government.