Speaking to the press two days after the little-known scrap metal dealers from Crimea KVV Group were named as the successful bidders for the steelworks, co-owner Valery Kristal said €30m of the total €107m price tag would be paid this year, with the remainder spread over 10 years, reported Latvian Radio.
Kristal said that despite its relatively low profile, KVV Group, which operated a network of scrap metal yards across Ukraine, had experience with a similar factory in Donetsk.
Kristal said KVV Group owns 12 factories in Ukraine, though because of the current unrest only three were presently operating.
On Wednesday Russian businessman Igor Shamis expressed surprise that he had not won the tender for Liepajas Metalurgs as he had bid €120m.
Liepajas Metalurgs was declared insolvent in November 2013. Despite being a modern facility, it fell victim to massive mismanagement, leading to more than 1,000 people being laid off and leaving the government having to pay back a €67m loan to Italian bank UniCredit shortly before it quit the country.
