ECONOMY

Nathan Milikowsky behind firm bidding to buy Hellenic Steel

nathan-milikowsky-behind-firm-bidding-to-buy-hellenic-steel

Jordan International Co, the strategic investor that is hoping to acquire Hellenic Steel and is connected to American-Israeli Nathan Milikowsky, is close to success with its 13-million-euro bid for the Greek company that ceased operation in 2014 and is currently in resolution.

The streamlining agreement was discussed on Monday in a Thessaloniki court and legal sources have said that it stands a good chance of being ratified as there has been no great objection to it.

Milikowsky, who is a 76-year-old relative of Israeli Prime Minister Benjamin Netanyahu, has been a stakeholder in and senior officer of a series of American firms in the industrial products sector, including Seadrift Coke and GrafTech International.

The deal on Hellenic Steel has been struck between Italian company ILVA SpA, which is the main stakeholder and creditor of Hellenic Steel (that is also in receivership in Italy), and Luxembourg-based Hellenic Steel Acquisition Co SARL, which belongs to Jordan International Co. The latter is an old client of Hellenic Steel and trades products similar to those of the Greek company.