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Ceturtdiena 22.03.2018 | Name days: Tamāra, Dziedra

Liepājas metalurgs attracts the interest of at least three potential investors

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe creditors club of Liepājas metalurgs (LM) has received at least three offers from potential investors, Latvian Economy Minister Daniels Pavluts claims.

In his interview to 900 seconds programme of LNT, Pavluts did not emphasize any specific offers. He said each offer will be evaluated in terms of quality. He did mention, however, that everything depends on the company’s shareholders, whose inaction created the mess in the first place.

Nevertheless, the government is also preparing a backup plan in case the worst comes to pass. This plan includes measures on how to assist the region if LM goes bankrupt.

As previously reported, Rosenergomash is prepared to help save (LM) with a team of experts and enough scrap metal to allow the largest Latvian metallurgy company working at full capacity, as the president of Rosenergomash Vladimir Palihata writes in his letter to Dombrovskis. On top of that, the Russian company can offer a highly qualified team with experience in similar companies in CIS countries.

Palihata also offers to find top economists and people with experience in manufacturing and engineering.

“If you would consider our cooperation plan, and if you are interested in cooperating, we are prepared to send a group of experts in order to perform an independent appraisal at LM and compile an anti-crisis plan to help the company recover”, – Lipman’s investor writes in his letter to the Latvian PM.

LM shareholder Kirov Lipman has decided to begin negotiations with creditors without mediation from Prudentia Advisers.

On Wednesday, June 5, the government’s specially formed working group plans to go through Prudentia Advisers’ report on the proposals submitted by LM shareholders. Meanwhile, Lipman has begun meeting with representatives of Citadele bank in order to take the opinion of creditors and act without mediators. Security has been tightened at the plant, Dienas Bizness reports.

“We have not seen the documents signed by Zakharin and Segal. We ask Prudentia to present them, but they refused. Perhaps, we would sign these documents if we were to see them. Judging from the information that was released publicly, the options provided by Prudentia are being amended at the moment. It is no longer an initial offer, but we do not know what the new one is”, – Lipman’s representative, sworn lawyer Pavel Rebenok, notes.

Seeing as how Prudentia keeps silent and chooses not to reveal any information, the decision has been made to communicate directly with the creditors and learn their opinion about the situation. Citadele bank is the first creditor with whom negotiations were initiated on June 4.


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