Sale of international distribution business of Cognor

Financial advisory to Cognor S.A., a major distributor of steel products in Central and Eastern Europe, on the sale of 99.9% shares in Cognor Stahlhandel GmbH responsible for the international activities of Cognor Group

In February 2011 after less than two months after signing of the conditional sale agreement of 100% shares in Cognor Stahlhandel GmbH between Cognor S.A. and Złomrex S.A. on one side, and Eff eins Beteiligungsverwaltung GmbH and Eff zwei Beteiligungsverwaltung GmbH on the other side the parties managed to successfully close the transaction.

In the interim period the parties fulfilled a number of conditions precedent, including receiving Złomrex bondholders’ consent for the deal, release of liens by Bank of New York and the purchase of the remaining 25.1% of shares in the Company from voestalpine Stahl GmbH.

The total initial price for the shares based on the Company’s 2009 financial statements amounted to EUR 32.7m. The final sale price will be established on the basis of a consolidation report that the Company will prepare as of the closing date.

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

Transaction team

Adam JABŁOŃSKI

Adam JABŁOŃSKI

Vice President of the Management Board, Partner

Data

February 2011

Sector

Industrials

Transaction value

EUR 32.7m