Poland shortlists 2 firms for stake sale in Huta Labedy

Deals

Normal 0 21 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Normál táblázat"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} It is reported that Polish Ministry of State Treasury has completed acceptance of applications to negotiate the sale of 81.67% stake in the sections producer Huta Labedy.

The deal is to have been finalized by the end of the year. It will involve the sale of 7.95 million individual shares.

As per report, five applications from Polish companies were received; ArcelorMittal Poland, KEM, HW Pietrzak Holding, Amber Sp zoo, Opal Sp Zoo. After preliminary examination of submitted documents only ArcelorMittal Poland and KEM have been qualified for further negotiations, which are scheduled for October.

Huta Labedy was nationalized in 2005. It currently operates a 250,000 tons per year structural steel mill, producing 120mm to 160mm INP beams and 100mm to 180mm channel. Square billet for the operations is sourced from local producers, in particular, Celsa Huta Ostrowiec, CMC Zawiercie and ArcelorMittal Warszawa. (SteelGuru, India)

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