Warsaw (Puls Biznesu) – On June 28th, the Cabinet will approve of the final strategy of Poland’s coal-coke giant. ‘The strategy provides for merging stakes in two coke plants: Zabrze and Walbrzych to JSW coal company’, Stanislaw Speczik, deputy Minister of Treasury said. ‘According to initial data, the company will receive stakes of 73 percent of each coke plant’, Leszek Jarno, JSW CEO added.
To the group, whose controlling stake will be held by JSW, other companies will be merged, including Koksownia Przyjazn coke plant, a producer of nearly 2.4m tonnes of coke a year. Today, JSW owns a 51percent stake in this plant after it bought 5 percent two weeks ago from Kompania Weglowa for PLN 72m (EUR 17.7m). JSW will also buy a 37 percent stake from PKP, Poland railways. The group will also comprise of Polski Koks, a trading company, owned in 51 percent by JSW. 24.5 percent stakes are held by coke plants Przyjazn and Zdzieszowice.
The Ministry of Treasure believes that the mergers will allow to build strong group. In 2006, it would be listed. Analysts believe it is a good idea.
(PLN 1 = EUR 0.246)