M-Energo to get NCHZ chemical plant for EUR 2m

Could new owner revive NCHZ

The company M-Energo has offered just EUR 2 million to buy up the large chemical plant NChZ in Novaky, Central Sllovakia.

M-Energo is one of the largest creditors of NChZ in bankruptcy and so plays a crucial part also in the Creditor committee that will decide on the sale. The sum of EUR 2 million was set beforehand by the bankruptcy trustee as the starting bid price for Slovakia’s biggest chemical plant.

The deal looks set to take place because it would need the whole Creditor committee to vote against the buyout offer for it to be rejected. On Wednesday 24 November the committee will convene to make a decision on M-Energo’s offer.

M-Energo was only incorporated in November last year with the company Stupefied Holdings limited gradually increasing its subscription from EUR 4,250 to EUR 18,004,250. Only half of this amount is paid up and the whole stake is pledged to J&T Banka.

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