Blic has had an insight into a letter of intent specifying that Core Group is interested in taking over all three U.S. Steel’s plants in Serbia - in Smederevo, Sabac and Kucevo.
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In the following five years the company would invest USD 500-600 million in the production. No worker would be laid off from those plants, and Core Group even promises to employ new labor.
The letter of intent also reads that Core Group would guarantee the steel sales in the amount of EUR 100 million. That steel would be delivered to its factory in Vushtri (Vucitrn). Last month, SIVA Partners bought 50% of the stake in Core Resources Group. Mr. Valentino Gurraj CEO of Siva Partners, in New York, said to Illyria newspaper that “Siva Partners and Core Group are in the process of closing the deal and acquire Zelezara Smederevo steelworks.”
SIVA Partners is an investment management firm founded by Valentino Gurraj and Simon Elyakim in 2010 in response to the needs of their overseas clients for real estate advisory services in New York City.
The firm originates, structures and participates in real estate investments in office, residential and retail properties with a geographic preference for New York City and select global markets. SIVA Partners is currently pursuing the acquisition of single assets, as well as, portfolios.