LNM won the tender held for Polish mill HC

LNM won the tender held for Polish mill HC

According to recent news in the market, LNM has recently selected by Polish Treasury Ministry as the winner of the tender held for privatization of Polish mill Huta Czestochowa (HC). As previously reported by SteelOrbis, Ukrainian producer Donbas had given offer for HC and the Treasury Ministry announced that it chose Donbas as the winner of the tender. However, the Ministry's recent announcement, stating LNM as the winner of the tender surprised authorities of Donbas. The change in the decision of the Ministry is attributed to the takeover of Poland's largest steel mill Polskie Huta Stali (PHS) by LNM. It is for sure that, the change in the decision of the Ministry does not depend on financial matters, as the offer of Donbas was financially better than the offer of LNM. The offer of LNM is PLN375 million ($92.1 million), whereas offer of Donbas is at the level of PLN 400 million ($104 million). Donbas authorities speculate that the new decision depends upon certain political matters, such as Poland's not wanting Ukrainian investors in the country.