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KVV Liepājas metalurgs’ steelworks bought out by Austrian Smart Stahl

The auction for the sale of the insolvent KVV Liepājas metalurgs rolling mill equipment concluded with the victory of Austrian Smart Stahl GmbH, as confirmed by insolvency administrator Guntars Koris.

The Austrian company won the auction with its price – EUR 1.57 million (without VAT) or EUR 1.9 million (with VAT). Smart Stahl GmbH is expected to transfer funds on Wednesday, 21 March.

Koris says that there were three contenders in total: Austrian Smart Stahl GmbH and Latvian companies SIA Tolmets and SIA FeLM.

The initial price of the assets in question was set at EUR 1.33 million.

Information available at firmenabc.at shows that Smart Stahl GmbH was founded in April 2017 with a base capital of EUR 35,000. The company’s sole owner is Cyprus-based Segoa Ventures Limited. Smart Stahl GmbH is described as a holding operating in the field of steel production, trade, management and IT services.

26 February marked the beginning of the auction for the sale of steelworks assets belonging to KVV Liepājas metalurgs, as well as four pieces of real estate property owned by the company. The initial price of the electric ironmongery department located in Liepaja, Brīvības ielā 94, and all associated equipment is set at EUR 5.35 million.

Auctions have also commenced for assets owned by KVV Liepājas metalurgs located in Liepaja on the following addresses: Brīvības ielā 92A, Brīvības ielā 94A, Brīvības ielā 100, Brīvības ielā 100B. The total price of all four pieces of property is EUR 313,000.

All auctions are held electronically at izsoles.ta.gov.lv. Auctions will be closed at 13:00 on 28 March.

KVV Liepājas metalurgs was declared insolvent in September 2016.


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