Bids are due by 5 August. The condition for the purchase of the 79.49% stake is the purchase of all claims.

BAMC bought the claims of state-owned companies to Litostroj Jeklo and the ownership share in early August 2015 with the aim of selling them to a strategic buyer in a package.

The government had decided for the move to salvage the company that was on the verge of bankruptcy.

Last year, steel group SIJ expressed interest in the deal but eventually backed out.

Litostroj Jeklo generated over EUR 32m in revenue in 2012. But things then turned downwards and court-mandated debt restructuring was launched in September 2014. In 2014 revenue dropped to EUR 10m and the loss reached EUR 8m.