LNM Group, the private company owned by Ispat International chairman Lakshmi Mittal, has submitted the only valid bid to buy Sidex Galati, Romania's largest steel company which is being privatized. The news emerged after the country's privatization authority, Apaps, which had prolonged the deadline for submission of bids to April 4, opened the bid envelope last week.Apaps did not say how much LNM has offered for the plant, which is Eastern Europe's second largest producer of flat rolled products after US Steel Kosice of Slovakia. Mittal's spokes-woman confirmed the bid, but would not give details. Negotiations between LNM and the Romanian government are due to start early this week.
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