The sale process of the Liberty Galați steel plant is moving towards direct negotiations with three remaining investors, after two international tenders were unsuccessful.

The sale of the Liberty Galați steel plant has entered a new phase, after two international auctions failed to attract bidders. The administrators decided to negotiate directly with three investors: UMB Steel, Metinvest, and Jindal Steel.

The first auction had a starting price of 709 million euros, but did not generate any bids, and the second, with a reduced price of 463 million euros, was also unsuccessful. Currently, Liberty Galați is under preventive concordat, having debts of approximately one billion euros, and the Romanian state is a major creditor. The government has amended legislation to allow the takeover of claims by the Authority for the Administration of State Assets, in order to avoid bankruptcy. The sale is taking place in the context of a lawsuit with Liberty Ostrava, which complicates the process of asset liquidation.