Liberty Ostrava’s main steel plant and coking facility will be acquired by a consortium of SPV NH Ostrava and SPV NH Koksovna for CZK 3.01 bln (USD 142.5 mln). The companies, owned by Martin Pecina, were the only bidders and have received approval from the creditors’ committee and secured creditors.
The acquisition follows Liberty Ostrava’s insolvency filing in June 2024 and a moratorium application in late 2023. Non-core assets, such as select real estate and receivables, will be sold separately.
Liberty Ostrava historically served the construction, engineering, and petrochemical sectors. Currently, the plant operates under tolling agreements with third-party material suppliers. Facilities in plants 15 and 16 are backed by Vitkovice Machinery Trade (CE Industrie group), while the rolling mill in plant 14 is supported by Polish firm Donquixote. Combined, the operations support around 2,500 jobs.
The transaction awaits approval from the insolvency court and the Office for the Protection of Competition, with ownership transfer expected by autumn 2025.
Liberty Ostrava, acquired by Sanjeev Gupta’s GFG Alliance from ArcelorMittal in 2019, halted production in late 2023 due to financial difficulties and a dispute with its energy supplier over unpaid bills.
1 USD / 21.1 CZK
