By Haris Fludopoulos
A new postponement will be given, according to information, for the end of August to the two parallel tenders for the sale of LARCO conducted by TAIPED and the company’s special administrator.
The postponement was reportedly requested by a bidder and deemed to be granted as it is believed to help turn the investor’s initial interest into a binding bid for the ferronickel industry under concession.
It is worth noting that, of the main outstanding issues related to the tender, the issue related to the renewal of the AEPO for the Larymna factory has already been resolved.
At the same time, the arrangement of the issues related to the personnel, which was also requested by the participants, is in progress.
It is recalled that in the non-binding expression of interest phase in the tender for Larko, six investors appeared, the companies Mytilineos, GEK TERNA in a joint venture with AD Holdings, Commodity & Mining Insight UK, Trafigura Group, Solway Investment and Tharisa.
For some time now, most of the investors have already withdrawn, but at least two companies are still active in the bidding process: CMI and the TERNA AD Holdings consortium.
Finally, it is worth mentioning that the two ongoing parallel tenders by TAIPED and the Special Administrator are essentially the last chance for the industry, as in case they are declared barren, then LARCO will be led to bankruptcy and permanent lockout.
Source: Capital
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