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RIGA, Jan. 15 (Xinhua) — The Latvian government’s talks with the potential investors of ailing steel firm KVV Liepajas Metalurgs has failed because it has now been decided to split the company’s assets and auction them off.
KVV Liepajas Metalurgs is a firm based in the southwestern Latvian port city of Liepaja.
Guntars Koris, the troubled steel company’s insolvency administrator, announced the decision to the media on Monday, saying that none of the potential buyers had provided the necessary guarantees to prove their ability to acquire the steelworks in one piece and bring the plant back to life.
Millionaire Igor Shamis, who has been holding negotiations with the Latvian government on the acquis…
Read the full article at: http://www.xinhuanet.com/english/2018-01/16/c_136897722.htm