Sale of Polish distribution business of Cognor to ArcelorMittal Group
Financial advisory to Cognor S.A., a major distributor of steel products in Central and Eastern Europe, on the sale of assets constituting most of its Polish business to ArcelorMittal Group
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.