The second auction of Mexican steelmaker Altos Hornos de México (AHMSA) and its mining subsidiary Minera del Norte (MINOSA) has failed after none of the prequalified bidders submitted the required $56.3 million guarantee by October 13. Bankruptcy trustee Víctor Manuel Aguilera confirmed this, according to local media.
Construcciones e Ingenierías Electromecánicas (CIESA), which offered $1.4 billion for the assets at the September 25 auction, had emerged as the leading bidder. The deal was conditional on financial guarantees. CIESA later said it had made the payment, but the trustee confirmed the required amount had not been received.
The court has given secured creditors Cargill and Afirme 90 calendar days, from October 17, 2026, to January 14, 2027, to explore forming a consortium to acquire the companies. They must submit progress reports every 15 days. The authorization grants neither ownership nor preferential acquisition rights. AHMSA and MINOSA are still to be sold together as a single productive unit.
There are no comments yet.