Court paves the way for SLS to take over sugar mills

Saint Louis Sucre (SLS) does not have to obtain the consent of the Interior Ministry to buy a stake in Slaska Spolka Cukrowa (SSC) from the Treasury, the Supreme Administrative Court (NSA) ruled yesterday. Under a deal concluded with the Treasury on November 15 last year, SLS agreed to pay zl.250 million for 95% of SSC, on the condition that the transaction was approved by the Interior Ministry. However, after failing to obtain the Ministry's consent, SLS took the matter to court. Commenting on the court's ruling, SLS adviser Dariusz Tokarczuk said, "The SLS demand that the Treasury hand over the shares in SSC is thus justified." He added that the company was confident the deal could now go ahead. SSC, which controls 16 sugar mills, has a 17% share of the domestic market. (Prawo i Gospodarka, p. 3) M.T.