Poland Allows IUD to Buy Gdansk Shipyard

The Polish Committee of Competition and Consumer Rights has permitted IUD Polska, a subsidiary of the Industrial Union of Donbas, to acquire more than a 80% stake in Gdansk Shipyard, according to Korrespondent. In October, IUD announced plans to acquire an 86% stake in the shipbuilder. Eugene Cherviachenko: The purchase will strengthen markets for IUD-related plate producer Alchevsk Iron & Steel (ALMK: BUY), on one hand, and will allow secure supply of raw materials if IUD constructs its own ship fleet.