KGHM on its way to close the biggest Polish deal

KGHM on its way to close the biggest Polish deal

Published at: 2012-03-01 14:24 | Author: Economics & Politics
Canadian Minister of Industry gave Poland’s cooper giant KGHM a green light for Quadra FNX Mining company take over. Canadian Quadra FNX Mining is a producer of copper, nickel, gold, platinum and palladium, with mines in Chile and Canada U.S. The decision was the final step to closing the deal which has been announced the biggest transaction made in the history of Polish business. KGHM is to acquire 100 percent stake in Toronto-based company for PLN 8.89 billion. After the acquisition, Polish KGHM intends to withdraw Quadra from Toronto Stock Exchange, even thought the company has not yet revealed its 2011 financial result. KGHM has recorded a net profit of PLN 11.33bn what has turned out to be the best result in the history of Polish companies.

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