Latest News

Spain's Celsa offers British and Norwegian steel mills to Sev.en GI

Spanish steelmaker Celsa has sold its mills in Britain and Norway to Se.ven GI, the Czech mutual fund said on Thursday, validating an earlier report on news site El Confidencial.

A spokesperson for Se.ven GI, owned by billionaire Pavel Tykac, decreased to state just how much the fund had actually spent for the assets after El Confidencial, citing market sources, said the cost tag was 600 million euros ($ 632.10 million). Celsa, Spain's biggest privately owned industrial group, has been working on offering its foreign possessions considering that February under a restructuring strategy.

However, its Polish system, its biggest foreign asset, is not part of the sale to Se.ven GI.

The Spanish company will utilize the profits from the possession disposals to decrease financial obligation, El Confidencial said.

Celsa did not immediately react to an ask for remark.

A regional court in Barcelona in September 2023 approved a. multibillion-euro restructuring strategy presented by Celsa's. creditors, handing control of the company to a group that includes. Deutsche Bank, Attestor, Anchorage, GoldenTree and SVP.

(source: Reuters)