Stalprodukt's board has received approval from the anti-monopoly authority in Turkey for the planned acquisition of GO Steel Frydek Mistek. Previously, similar solutions, beneficial for the company, were issued by the antimonopoly services in Germany and Austria.
Thus, a precedent was reached for the conditions for the entry into force of the sale and purchase agreement of the Czech company from ArcelorMittal SA with its registered office in Luxembourg.
Stalprodukt first announced on July 10 last year that it had submitted a mandatory offer to buy GO Steel Frydek Mistek. The contract for the acquisition of the Czech company has been agreed in the amount of 40 million euros.
As mentioned earlier, the contract was conditional and its entry into force was conditional on obtaining consent from the relevant competition authorities in the three countries mentioned above.
According to management, the acquisition of the Czech company will allow Stalprodukt to strengthen its position in the transformer sheet market. Thus, the production capacity will increase to about 150,000 tons /year.
The Stalprodukt Group, listed on the Warsaw Stock Exchange, is a leading manufacturer and exporter of highly processed steel products: transformer metal sheets, cold formed sections, road products and toroidal cores.
The company also has its own well-developed steel product distribution network with commercial warehouses and offices in several cities in Poland.
Polish Stalprodukt found a way to buy a Czech company
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Azovpromstal® 17 February 2018 г. 15:25 |
