MAL assets offered for HUF 17 bln

Deals

State-owned liquidator Nemzeti Reorganizációs Nonprofit offered the assets of troubled aluminum-oxide maker MAL for the price of HUF 17 bln, the official company publication Cégközlöny reported.

Bidders involved in the process will be required to pay a HUF 170 mln forfeiture deposit.

MAL was fined HUF 135bn in 2011 for environmental damage as a result of the red-sludge spill from a reservoir in October 2010, which caused the death of ten people.

MAL was placed under liquidation in February 2013. At the time the National Development Ministry said at that the government would intervene "to permit production to continue in a new company free of liabilities."

A company called Nemzeti-MAL-A Alumíniumtermelő was established by the Hungarian National Asset Management Company in April 2014 to take over the assets of MAL.

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