Polish Treasury Ministry to extend deadline for LNM
According to a statement made by Polish Treasury Ministry yesterday, LNM Holdings' exclusivity period is extended until August 29. LNM Holdings, which failed to sign a purchase agreement by previous deadline last Friday, has to make progress on several issues. These issues cover, PHS' debt of Zloty 1.6 billion ($ 398 million) to energy suppliers and railways, and social package to be agreed on with unions representing workforce of the company as well as receiving necessary approvals from local authorities.
In case LNM succeeds in purchase of PHS which produces 70% of total
production of
Poland, the Group will almost double its capacity in the region up to 14-15 million tons.