Saint Louis Sucre to buy stake in Silesian Sugar Refinery

The Treasury Ministry has decided to sell its share of the Silesian Sugar Refinery (ŚSC) to the French company Saint Louis Sucre (SLS), owned by the German concern Südzucker. The new investor will pay zł. 269 million for the shares, which is more than previously agreed, as SLS will pay an additional zł. 18.5 million for the Treasury's resignation from the so-called golden sh are, giving the Ministry special rights in the company's decision making. Th e French plan to spend zł. 250 million on raising the company's capital, an urgent is sue as the refinery's financial condition is close to critical with debts of zł. 464 million. A further zł. 405 million is to be invested in the plant's modernization. ŚSC's workers have been promised pay rises and guaranteed employment for the next 40 months. (Puls Biznesu, p. 5) K.Ż.