KERM supports a motion to transfer shares worth PLN 50mn to TF Silesia
The Government's Economic Committee (KERM) supported a motion from the treasury ministry to transfer state-held shares of Bank Pekao worth PLN 50mn (USD 12mn) to the financial institution TF Silesia, which deals with financial restructuring of the steel mill Huta Katowice (HK). The assets will be used to give HK a loan to be used to repay the company's debts to banks. TF Silesia, which was set up last December in order to help HK with current financing, holds shares in ten companies worth a total of PLN 200mn (USD 48.7mn). At the same time, HK's trade unions suspended protests when the government signed a guarantee that it would not allow the company to go bankrupt and would adopt a programme for restructuring of the steel industry as soon as possible. The government pledged to assist financially the mill's current operations. bb, kp
Źródło:IntelliNews Daily
