Sale of MAL assets winds up
The sale of the assets of troubled aluminum maker MAL has closed successfully, Hungarian regional daily Veszprém Megyei Napló reported on its website yesterday. The assets were advertised for net HUF 17 bln in July.
The website, veol.hu, said eight offers were received by the deadline on September 1, but just one party aimed to buy the company's chemical industry technology. A project company, IC Profil, is expected to sign the contract on purchasing the assets by the end of this year.
MAL was fined HUF 135 bln in 2011 for environmental damage caused by a toxic sludge spill at its plant in Ajka (northwestern Hungary). A reservoir at the plant ruptured in October 2010, sending a flood of red sludge through surrounding villages that killed ten people and damaged hundreds of homes. The event was Hungary's worst ever environmental disaster.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.