Austria’s Smart Stahl GmbH has won the auction on the sale of the property of a rolling mill at insolvent Ukrainian-Latvian enterprise KVV Liepajas metalurgs, the enterprise’s administrator, Guntars Koris, has said. The proposed price was EUR 1.57 million, excluding VAT, or EUR 1.9 million, including VAT. Smart Stahl GmbH made the payment on March 21.
In addition to the Austrian company, Latvia’s Tolmets Ltd. and FeLM Ltd. also participated in the auction. The initial price of the property was EUR 1.33 million.
According to Austrian site firmenabc.at, Smart Stahl GmbH was founded in April 2017 with fixed capital of 35,000 euros. Its sole owner is Segoa Ventures Limited, a company registered in Cyprus. Smart Stahl Gmbh is a holding company that produces and sells steel and deals with management and IT services.