Prague - Czech coal miner New World Resources (NWR) said Monday it plans to buy a 25-per-cent share in the Ukrainian iron ore pellet producer Ferrexpo from RPG Industries, NWR's majority shareholder.
The mining group said it will pay 163.3 million euros (220.1 million dollars) for the stake that RPG Industries bought earlier in October.
"We are taking advantage of a unique market opportunity to secure a significant holding in Ferrexpo at an attractive valuation," NWR's executive chairman Miklos Salamon said in a statement.
NWR said the acquisition will be fully funded from its cash position that stood at 668 million euros on June 30.
Prague - Prime Minister Mirek Topolanek's government survived a parliamentary confidence motion Wednesday, just as the Czech Republic prepares to take over the EU presidency in January.
Prague - Prime Minister Mirek Topolanek's government faced a parliamentary confidence motion Wednesday, just as the Czech Republic prepares to take over the EU presidency in January.
Prague - Prime Minister Mirek Topolanek's government faced a parliamentary confidence motion Wednesday, just as the Czech Republic prepares to take over the EU presidency in January.
Prague- Czech Prime Minister Mirek Topolanek said Monday he is dedicated to ratifying European Union's reform treaty before his country takes over the EU presidency on January 1.
