Konstantin Zhevago will seal the deal to purchase Bulgaria’s biggest steel mill Kremikovtzi, the Ukrainian embassy in Sofia told The Sofia Echo on March 11.

At the weekend, Ukrainian ambassador to Bulgaria Viktor Kalnik said told reporters that the deal would be done and dusted within a week, as quoted by Standart daily.

Negotiations with majority owner, Indian businessman Pramod Mittal, would take place, but the embassy did not give further details.

However, the embassy was almost 100 per cent sure that Zhevago will be the new factory owner, culture attaché Vitali Peychev confirmed.

“I can not say more because of confidentiality reasons but it will be heard,” Kremikovtzi managing board member and former chief executive Alexander Tomov was quoted as saying by Standart daily.

Zhevago was advised by Deutsche Bank, which was also securing the financing for the deal, according to Standart. The figure could run up to one billion US dollars, the daily claimed.