Huta Czestochowa to go under new tender as Sunningwell Polska deal falls through

A third tender for the sale of struggling steel plate producer Huta Czestochowa was expected to be announced soon because the winner of the previous tender failed to submit payment, a source at the district court of the city of Czestochowa in Poland has told Fastmarkets.

Bankrupt Huta Czestochowa was sold via tender to Polish industrial investor Sunningwell International Polska in late July this year. The purchase price was about 220 million zloty ($58 million).
The new owner should have submitted payment by October 5 to seal the deal, but it failed to do so, a spokesperson for the district court told Fastmarkets.
“The deal fell through and Sunningwell Polska is to blame for that,” he said.
The new tender conditions have yet to be announced, but it was made clear that Sunningwell Polska will have no right to participate in the new tender.

Polish market...


Julia Bolotova

October 09, 2020

12:48 GMT