ArcelorMittal takes over the Polish part of the distribution business of Cognor S.A. 9 June 2011

In May 2011 Cognor S.A. finalized the sale of its Polish distribution assets to ArcelorMittal Group companies.

Concurrently, the parties signed a.o. a sale and distribution agreement as well as a non-compete agreement. The total price for the disposed assets amounted to PLN 181.2m, of which PLN 24.3m was paid into a two-year escrow account in order to secure potential claims of the buyers towards the sellers.

FIDEA acted as the sole financial adviser of Cognor S.A.