A glimmer of hope for Częstochowa Steel Mill

The Treasury Ministry wants to speed up the privatization process of the Częstochowa Steel Mill (HCz). The time is running out because the agreements with the company's creditors, whom HCz owns over zł.800 million, are valid only to the end of the year and further delaying of the privatization process might mean that the company will go bankrupt. According to Puls Biznesu, the Ministry wants to invite two potential investors, namely LNM and the Ukrainian Donbas, which were put on the shortlist of investors at the beginning of the year, to submit their bids once again. However, this time the Ministry demands that the investors declare in writing that in case they lose the bid they would not appeal against the decision. In the case of Donbas it would mean that the company would have to withdraw its appeal against the HCz privatization procedure it already submitted to the court. Donbas' representative Konstanty Litwinow stated that his company would withdraw the appeal if it receives the exclusive rights for further negotiations. (Puls Biznesu, pp.1, 4) E.B.