Nystal Group begins process of acquiring Huta Ferrum

ING Bank Śląski has finalized negotiations concerning the sale of a 49% stake in Huta Ferrum, a pipe producer. According to unofficial information, the shares are to be acquired by the Świętochłowice-based Nystal Group, a venture of the steel and iron industry, specializing in trading metals. It is only a matter of time until the final contract is signed. In the first phase of the transaction, which will be finalized next week, Nystal is to purchase a stake of 9.99%. Following that, a new investor will submit a motion to the Securities and Stock Exchange Commission to exceed a given threshold in owning the capital of Ferrum. After Nystal obtains all required permits, it will call for sale of the rest of the stake, to which ING will respond. The share price will most probably be settled by calculating the average market price over the past six months. (Puls Biznesu, p. 5) A.K.