Commercial Metals to Sell 11% Stake in Trinecke Zelezarny for $29M
Commercial Metals Company (NYSE: CMC) announced today that its wholly-owned subsidiary, Commercial Metals International GmbH ("CMC"), has entered into a Share Purchase Agreement with Moravia Steel a.s. ("Moravia") whereby CMC has agreed to sell its 11% ownership interest in Trinecke Zelezarny ("Trinecke"), a.s., a joint-stock company organized and existing under the laws of the Czech Republic, to Moravia, who is the majority owner of Trinecke, for a purchase price of U.S. $29 million. The closing of the transaction is subject to customary closing conditions and is expected to close within the month.
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