Penta and partner building majority VSŽ stake

British risk capital investor ART Investments is buying shares in the VSŽ steel making group from financial investors Istrokapital and J&T, and by the end of the month should have a 17.5 per cent stake in VSŽ.

The firm, which is working in tandem with the Slovak corporate raider Penta Group (which now owns 31.8 per cent in VSŽ) will thus soon together control a majority stake. Penta has already announced plans to break up the VSŽ group’s over 20 firms and sell them off.

Košice investor US Steel, meanwhile, has lost interest in VSŽ since being submarined in a deal for VSŽ shares last Christmas. On that occasion, Penta, J&T and Istrokapital took an over 21 per cent stake one hour before the end of trading even after the Economy Ministry had agreed to delay the sale.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

News digest: National Gallery prepares for its big move

Kids and pensioners will get tablets used in last year's census, the highest ski slope opens to skiers, and there are fewer fake banknotes.


13 h
A lookout point on the hike to the Babky peak in the Western Tatras on January 23, 2022.

Weekend: Which big stars will gig in Bratislava and Prague in 2022?

As usual, you will also find weekend hiking tips in the Spectacular Slovakia Roundup.


21 h
Bratislava airport

Slovaks often find it hard to believe someone wants to live in their country

Homecoming may also not be easy because of how returning Slovaks are received at home.


27. jan
The Three Borders (Trojhraničie or Trojmedzie), a place where the countries of Slovakia, Hungary and Austria meet.

The Three Borders near Bratislava is accessible again, legally

Visitors will likely catch a glimpse of the largest flying bird in Europe wintering here.


24. jan
Skryť Close ad