Outokumpu will sell Terni plant, the Europe's biggest and most modern steel plants as a condition for the EU authorities to approve its acquisition of Inoxum. However, Outokumpu was not satisfied with the number of bids or the price offered. The deadline will be extended to the end of June. The book value of Terni was estimated to only US$739 million or less comparing to US$1 billion a year ago yet Outokumpu said the financial performance of Terni was improved despite facing sluggish market.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64842&division=A9
