• Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions
Friday, March 5, 2021
No Result
View All Result
ABC Money
PR Fire Press Release Distribution
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
ABC Money
No Result
View All Result
Home News

Poland wants to renegotiate terms of PHS sale to Arcelor Mittal

by Sam Allcock
13/06/2017

WARSAW (AFX) – The Polish treasury has called for the terms of the 2004 sale of the PHS steel group to Arcelor Mittal to be reviewed, to see if a more favourable deal for Poland could be renegotiated.

Deputy Treasury Minister Pawel Salamacha called for the review during a parliamentary debate on the sale of Poland’s biggest steel concern.

In a recent report issued by the Polish Auditors’ Court, the value of PHS was ‘under-estimated by around two billion zlotys’ (513 mln eur) at the time of the group’s acquisition by Arcelor Mittal.

The Auditors’ Court recommended that the Treasury renegotiate the terms of a call option that was part of the 2004 deal, which would allow Arcelor Mittal to acquire an additional 25 pct stake in PHS for one zloty per share, or a total of 67 mln zlotys.

But the court did not complain about Arcelor Mittal winning the tender to buy PHS, saying that its offer was the best on the table at the time.

The full details of the sale contract have not been made public.

PHS comprises the four main steel mills in Poland — Huta Sendzimira, Huta Katowice, Huta Florian and Huta Cedler — which between them account for 70 pct of Polish steel production.

newsdesk@afxnews.com

RelatedPosts

National Governments Keen to Use Blockchain Technology

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths

Santander Loses 8771 Million In 2020 After Accounting Adjustment

Ford Lost $ 1.276 Million In 2020 To Covid-19

Load More

afp/jsa

COPYRIGHT

Copyright AFX News Limited 2007. All rights reserved.

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.

AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited

Previous Post

Iceland's Novator Telecom, Netia to launch 4th mobile telecoms network in Poland

Next Post

WPP buys 24/7 Real Media for $649M

Related Posts

National Governments Keen to Use Blockchain Technology
Finance

National Governments Keen to Use Blockchain Technology

05/03/2021
5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths
News

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths

25/02/2021
Santander Loses 8771 Million In 2020 After Accounting Adjustment
News

Santander Loses 8771 Million In 2020 After Accounting Adjustment

09/02/2021
Next Post

WPP buys 24/7 Real Media for $649M

Banking group criticizes Chavez policies

Fears of Asian type crisis in emerging Europe unfounded, says Moody's

Latest News

Some Important Things to Consider While Buying TV Covers Online

Some Important Things to Consider While Buying TV Covers Online

05/03/2021
5 online side hustles that could boost your income in 2021

5 online side hustles that could boost your income in 2021

05/03/2021
4 Things to know about a luggage storage business

4 Things to know about a luggage storage business

05/03/2021
Impressive Hair Dryers Detailed Guide To Make Your Life Simpler

Impressive Hair Dryers Detailed Guide To Make Your Life Simpler

05/03/2021
How to Accessorise For Your Zoom Meetings

How to Accessorise For Your Zoom Meetings

05/03/2021
National Governments Keen to Use Blockchain Technology

National Governments Keen to Use Blockchain Technology

05/03/2021

Social

Contact

For editorial enquiries:

editorials@abcmoney.co.uk

For advertising enquiries:

advertise@abcmoney.co.uk

Top Topics

  • News
  • Business
  • Finance
  • Property
  • Technology
  • Investment

Guides

  • Best UK Bridging Loans
  • Best UK Secured Loans
  • Best UK Commercial Mortgages
  • Best UK Business Loans
  • Best UK Payday Loans
  • Best Sites for International Money Transfers
  • Best Press Release Distribution Service

Social

  • Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2020 ABC Money

No Result
View All Result
  • Write for us
  • Contact
  • About Us
    • Authors
  • News Desk
    • Business
    • Finance
    • Property
    • Technology
    • Investment

© 2020 ABC Money

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.