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PrintReportedly, Taiwan's stainless steel producer Yieh United Steel Corp (Yusco) mulls to buy Outokumpu's subsidiary stainless steel plant Acciai Speciali Terni (AST) in Terni, Italy, attempting to expand its global layout.
AST was put up for sale as Outokumpu offered to divest it to win competition authority approval for its purchase of ThyseenKrup's stainless steel arm Inoxum.
The sales price of the AST is estimated to be lower than €500 million, though the company is worth over this amount in Outokumpu's latest financial report.
Other than Yusco there are three more bidders for AST, namely, a consortium led by Aperam of Luxembourg and Italian steel companies Arvedi and Marcegaglia, a private equity firm of JPMorgan - One Equity Partners, and a private equity company - Apollo.
The Terni plant has the capacity to produce up to 1.7 million tons of steel per year
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