JSW sells a Victoria unit for PLN 350 mln
22:21
Coal producer Jastrzębska Spółka Węglowa (JSW) has signed a preliminary deal to sell 92.84 percent in its coking unit Victoria to industry restructuring agency ARP and financial vehicle TF Silesia for PLN 350 million, the company informed.
JSW will receive a downpayment of PLN 200 million by July 13, while the remainder of the total price will be paid once the final sales agreement is signed.
Realization of the transaction is subject to numerous conditions, including anti-trust body UOKiK consent or JSW bond holders approval. JSW, ARP and TF Silesia inked the term sheet on the planned deal on June 29, setting the details of the takeover.
Recently in July, JSW sold a 100 percent stake in its heat and power generating unit SEJ to PGNiG Termika for PLN 371.8 million.
