ThyssenKrupp has closed the first round of bidding in the sale of its steel mills in Brazil and the United States, with at least five parties still interested in acquiring one or both of the assets, a German newspaper reported on Wednesday. Without citing sources, Die Welt reported that steelmakers Posco of Korea and Japan's JFE Steel Corp. were among the companies that are still in the bidding process.ArcelorMittal is also involved, although it is only looking at buying the U.S. steel finishing plant in Alabama, according to the paper.Iron ore miner Vale also remains a possible bidder. The company owns 26.9 percent in ThyssenKrupp's finishing slab mill in Brazil and has a right of first refusal.ThyssenKrupp Chief Executive Heinrich Hiesinger said in August that he wanted to receive at least the 7 billion euros ($9.03 billion) at which the two assets are valued on his company's balance sheet.
POSCO is a Korea-based company engaged in the manufacture of steel products. Shares of PKX remained unchanged at $79.53. In the past year, the shares have traded as low as $74.05 and as high as $95.27. On average, 188588 shares of PKX exchange hands on a given day and today's volume is recorded at 0.
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