Ukrainian tycoon might take over Bulgarian still mill

Ukraine`s richest man Rinat Akhmetov might be selected by the Bulgarian government to run the operation of the troubled steel mill Kremikovtzi during the plant`s ongoing insolvency procedure, according to Sofia News Agency.

The news were reported Monday by the Bulgarian newspaper Standart Daily, which explains that Akhmetov was the "mysterious" investor interested in the steel-maker who was mentioned by Bulgaria`s Economy Minister Dimitrov last week.

According to the paper, representatives of the Kremikovtzi trade unions had had negotiations on Saturday with Miroslav Borisov, the CEO of the ProMet steel factory, which is located in Bulgaria`s city of Burgas, and is owned by Rinat Akhmetov.

Another meeting between the trade unionists and representatives of the Ukrainian tycoon is scheduled for Monday to hammer out the details for the actual negotiations on Wednesday, which might be attended by Akhmetov himself, according to the Standart Daily.

According to the rankings of the Polish magazine Wprost, Rinat Akhmetov is the second richest Eastern European with a fortune of USD 23 B. He is the founder and president of the SCM Holdings, and his mining, coal, and steel holding Metinvest is among the leading global companies in the field.

Akhmetov is also a member of the Ukrainian Parliament from Viktor Yanukovich`s Party of Regions.