Leading bidder emerges for AHMSA, but sale remains unresolved

Mexico’s Construcciones e Ingenierías Electromecánicas SA de CV (CIESA) has emerged as the leading bidder for the assets of bankrupt steelmaker Altos Hornos de México (AHMSA) and its mining subsidiary Minera del Norte (MINOSA). The Michoacán-based engineering and construction company offered $1.4 billion in a court-supervised bankruptcy auction held Sept. 25, according to various local media reports.

Businessman José Arturo Domínguez Arteaga submitted the bid, representing CIESA during the auction. Multiple Mexican media outlets reported that the company was the only qualified bidder.