Saint Louis Sucre appeals Interior Ministry stake refusal

French sugar concern Saint Louis Sucre (SLS) will appeal the decision of the Interior Ministry (MSWiA) refusing the company final acquisition of 95% stake in Slaska Spolka Cukrowa (SSC), a holding of 16 sugar mills. MSWiA announced the offer was denied because the concern had prepared a contract for acquiring the 16 sugar mills as a holding and should have placed separate motions. 'We are not buying shares of the particular mills constituting SSC, but a stake in the holding. Thus we decided to make only one proposal,' said SLS legal advisor Dariusz Tokarczuk. SLS paid zl.250.5 million, promising to invest a further zl.155 million over the next five years. According to Patrice Saintherant of SLS, the Minister did not read the contract carefully and his decision was thus incorrect. Just in case the appeal is refused, the French investor is also preparing the 16 separate contracts MSWiA requires. (Puls Biznesu, pp 1,7; Prawo i Gospodarka, p.4) M.M.