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Stalprodukt steel sells 99% stake in Gradir Montenegro for PLN 153 mln

TAG'S: STALPROD, Industrial (other)


Listed steel group Stalprodukt saw its unit ZGH Boleslaw sign a conditional deal to sell 99.35% stake in Gradir Montenegro lead and zinc for PLN 153 mln to Balkan Mining Group, Stalprodukt said in a market filing.


The proceeds from the sale will be allocated above all to the realization of new investment projects by ZGH Boleslaw, the filing read.


The parties will also sign a 5-year agreement for Stalprodukt to buy 15k tons of zinc concentrates from Balkan Mining Group worth PLN 160.1 mln, following the finalization of the current transaction, the filing added.


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