Czech consortium acquires Liberty Ostrava for $142 million

The new owner of the Czech steelworks Liberty Ostrava will be a consortium of companies SPV NH Ostrava and SPV NH Koksovna, owned by former Interior Minister Martin Pecina. This was reported by Ekonomický deník.

The consortium offered CZK 3.01 billion ($142.6 million) for the main production facility and coking plant. The creditors’ committee and secured creditors approved the offer.

The transaction is planned to be completed in the fall. The sale still has to be approved by the insolvency court and the antitrust authority, the Office for the Protection of Competition (ÚOHS). There were no other interested parties in the purchase of the company.

Michal Štefl, spokesperson for Liberty Ostrava’s insolvency administrator, noted that according to expert opinion and two economic analyses by well-known consulting companies (PwC, Deloitte Advisory), the option of selling the main enterprise and the coking plant is more profitable for the assets and, therefore, more satisfactory for creditors.

The sale process was organized by PricewaterhouseCoopers Czech Republic (PwC), which approached 230 potential investors.

As a reminder, Liberty Ostrava declared bankruptcy last year. It currently operates three facilities under tolling agreements – in the fall of 2024, production of road barriers, reinforcement bars, and seamless pipes was resumed. In February 2025, the process of selling the enterprise began. The company traditionally produced steel for the construction, machine-building, and petrochemical industries.

As reported by GMK Center, Liberty Steel, part of GFG Alliance, faced significant financial difficulties after the bankruptcy of its main creditor, Greensill Capital, in 2021. Despite attempts to restructure its debts and attract investors in recent years, the situation for the group remains critical, as do its assets in Europe, a number of which have been declared bankrupt or are in the process of liquidation.