The agreement covers the sale by JSW of 92.84% of the WZK Victoria shares to investors. The total sale price of the WZK Victoria shares is 350 million with a possible correction price based on the value of the cumulative EBITDA WZK Victoria for the years 2016 - 2019. On the basis of the agreement the parties declared their intention of making every effort for advance payment in the amount of PLN 200 million was not later than 13 July 2016.

 The transfer of shares in execution of the final agreement of the  shares sale  is conditional upon (the suspending conditions), among others obtaining corporate approvals, consent of the  UOKiK (Office of Competition and Consumer Protection) approval by the Investors, the consent of the Treasury on the sale transaction of the WZK Victoria shares, the consent of the JSW bondholders regarding the release of part of the existing collaterals established on their behalf in connection with the bond program and the establishment of return securing of the advance payment to investors in the form of a pledge on the part of the shares WZK Victoria. 

The provisions of this agreement does not provide for contractual penalties.

Pursuant to the agreement, the parties expressed their intention to take action to return to JSW Capital Group of WZK Victoria, when investors decide to divestment.  

The core business of WZK Victoria is production of coke and coal derivatives. The company is currently the largest in the country and the major European producer of foundry coke of the highest mechanical strength parameters. WZK Victoria also produces metallurgical and industrial coke. The total production capacity amounts to 500 thousand tons per year.