Złomrex closed the acquisition of steel trading arm of Stalexport S.A. for a total consideration of PLN 122.5m 1 October 2007

On 1st October 2007 Złomrex S.A. successfully closed the acquisition of Stalexport’s division involved in production and distribution of steel products.

The transaction is characterized by its high complexity and embraces a diverse range of elements such as acquisition of select assets forming an organized part of the Stalexport’s enterprise, as well as shares of Stalexport Trade. As a result of the transaction, Złomrex will substantially strengthen its lead position in the Polish distribution market of steel products.

The agreed consideration equals PLN 122.5m. The final price is subject to several adjustments including the value of working capital and indebtedness, which will be verified by Ernst & Young.

FIDEA acted as the sole financial advisor to Złomrex in this transaction.