Former Ukranian president Kuchma sold this state-owned steel mill, one of the largest and most profitable in the world, to his son-in-law for $800 million in 2005. The plant's output in 2005 alone was $1.9 billion. The public was outraged, and the sale was declared illegal and reversed. An open auction was subsequently held and the plant fetched a sale price of $4.8 billion for a 93% stake.