The investment company Sunningwell International Polska made a formal offer to buy the Polish heavy plate mill Huta Czestochowa, which was accepted by the mill’s administrator and approved by the local court, Marek Frydrych, Sunningwell’s president, said July 29.
Frydrych said his bid was the only one received by Huta Czestochowa before the deadline on July 27. Sunningwell also paid a Zloty 22 million ($5.9 million) deposit required for the offer to be valid.
Frydrych added that on July 28, the company Corween Investment, part of the Liberty Group, also submitted an offer. The company requested for its offer to be accepted despite missing the deadline and for the deposit payment period to be extended until August 3. The local court rejected both requests.
According to local media reports, a representative of Corween Investment made a pledge to offer Zloty 2 million ($0.53 million) over the initial asking price set at Zloty 220 million ($58.7 million).
A representative of Liberty Group said the company had no comment regarding its interest in the Polish mill.
— Wojtek Laskowski