Billionaire Martinez Says $1.1 Billion AHMSA Auction Delayed

Billionaire David Martinez tried to acquire troubled steelmaker Altos Hornos de Mexico SA in an auction declared deserted by a judge on Thursday.

The bidding process for AHMSA, as the company is known, had a minimum ask of $1.1 billion, in which a consortium between Martinez’s Fintech Latam and Ignition Industries was the only qualified bidder, according to a court document seen by Bloomberg.