The troubled WSE-listed construction company Polimex-Mostostal might soon get some of the additional cash it needs so badly, reported Parkiet. The builder will sell its subsidiaries Sefako and Energomontaż-Północ Gdynia to the Industrial Development Agency (ARP).
Formally, the transaction will be carried out by the investment fund MARS, part of MS TFI which is owned by ARP. A 99.99 percent stake in Energomontaż will cost ARP some zł.46.4 million, while a 95.97 percent stake in Sefako was valued at zł.72.3 million. The sale though still has to be approved by the Office of Competition and Consumer Protection (UOKiK).
From Warsaw Business Journal
Developer, contractor lock horns over work stoppage
Polimex-Mostostal saw a big loss in 2012, restructuring needed
PBG moots cooperation with Chinese 'giant'
Top managers charged in cartel case
Mostostal Warszawa woes
Commemorating Europe Day, EU faces key challenges
BY Stratfor Global Intelligence
Deputy PM cries out for attention
BY Remi Adekoya