State against selling NCHZ for EUR 2m

economy minister Juraj Miskov (photo credit (c) John Boyd)

The national property fund FNM has announced that it does not agree with the sale of the largest chemical plant in Slovakia, NCHZ in bankruptcy, at a price of just EUR 2 million. That is the offer being made by the company M-Energo, but a licensed appraisal of the company’s assets has put the value at EUR 127 million.

Even though the state by way of the FNM has the right of first refusal, economy minister Juraj Miskova has already announced that the state has no wish to take over the plant.

It is now up to the Creditors’ Committee whether it gives the thumbs up to the price or not. The FNM will make its position clear at the meeting of the committee today, but if the price is approved, the company M-Energo might just get the bargain of the year.

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