October 07, 2008

Sidenor considers placement of Corinth Pipeworks shares

According to sources close to the matter, Greek metals company Sidenor is considering a placement of shares in its unit Corinth Pipeworks to institutional or strategic investors to lower its debt levels.

According to the same sources, at the end of the nine month period Sidenor, a member of the Viohalco group, had EUR 533.9 million in medium and long term debt and EUR 202.5 million in short term debt.