Nine bids made for Larco; advisers weigh up options

Nine firms have expressed interest in becoming a strategic investor in Greece’s state-run ferronickel producer Larco, the Economy and Finance Ministry said yesterday. None of the potential investors was named by the ministry. «The offers are being assessed by the government’s financial and legal advisers who will submit their recommendations to a joint ministerial privatizations commitee in coming days,» the ministry said in a statement. The state owns 35 percent of Larco with National Bank and Public Power Corporation holding 36.4 and 28.6 percent respectively. The government plans to divest a minority stake in Larco, one of the world’s top producers of the steel alloy, to a strategic investor, ultimately eyeing the sale of a controlling stake.

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