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Portal Pietiek.com reports today that the four include the Metalloinvest holding that belongs to Russian billionaire Alisher Usmanov and his business partner Vladimir Skoch. The other three are the Ukraine-based KVV Group, Izhevsk metallurgical company Izhmetmash, and Novosibirsk holding company Afina Pallada.

Velmers declined to comment on the portal's findings, except that this information was imprecise. The investors wish the talks to proceed confidentially, therefore Velmers also has to observe confidentiality, he said.

Velmers said once again that there were investors with capital from the East and West among the remaining four prospective buyers of Liepajas metalurgs.

"There is much to be discussed yet, including the structure of the deal. I expect to close the deal in September," said Velmers.

Also, the buyer has to be approved by the secured creditors. Information about all four has been submitted to the secured creditors – the state of Latvia and the Citadele and SEB banks.

When asked if the prospective buyers have been vetted by the Latvian authorities, Velmers said that he did not have the authorities' reply as yet.