Article

Greek industrial company Metlen is the sole European contender among six foreign bidders for Aluminium Dunkerque, Europe's largest aluminium smelter. Other bidders include EGA from the UAE, Alba from Bahrain, a Japanese conglomerate, and Rio Tinto, which has faced backlash from labor unions.

The French state, through Bpifrance, is becoming actively involved in supporting bidders amid calls for job preservation and investment guarantees. Aluminium Dunkerque, formerly owned by Indian businessman Sanjeev Gupta, has seen increased investor interest following a power supply contract with EDF.

AIP expects sale proceeds over €1 billion, with valuations between €1.2 billion and €1.8 billion being reported. Metlen aims to increase its production significantly through this acquisition, which aligns with its existing industrial partnerships and funding for new projects. Binding offers are due by the end of February.