The Czech Republic approves the acquisition of Liberty assets in Ostrava by IROMET SICAV
The Office for the Protection of Competition of the Czech Republic has given preliminary approval to the acquisition by IROMET SICAV of certain assets from competitor Liberty Ostrava.
The decision, which is still subject to final approval, concluded that the merger would not significantly weaken competition in the domestic market.
Under the agreement, IROMET SICAV will acquire several strategic assets from Liberty Ostrava, including a pipe plant, a flat-rolled rolling mill, a long-range rolling mill, and a coke plant.
These facilities are part of Liberty Ostrava. A wide range of products in Ostrava in the field of steel production and subsequent processing.
IROMET SICAV is part of a business group led by PCTT LIMIT s.r.o., which operates primarily through TENDON Reality s.r.o. and PCTT Reality s.r.o. in the field of real estate, apartments and commercial rentals. Through VCL Group, AS and their subsidiaries, the group provides engineering services and supplies to various industries.
Liberty Ostrava is a large Czech steel manufacturer specializing in the production of cast iron and cast iron castings; profiles, beams and steel bars; reinforcement for concrete and mining steel products; hot-rolled flat products; wire rod and seamless steel pipes of small diameter, steel road fences and commodity pipes.
Steelorbis.com