Printer Friendly

EBRD reportedly purchases up to 7.5% in PKP Cargo.

MANews-(C)2009-2013

29 October 2013 - The European Bank for Reconstruction and Development (EBRD) has acquired an interest of between 5% and 7.5% in Polish transport and logistics services provider PKP Cargo SA in the firm's stock offering earlier in October, Reuters reported, quoting a market source.

PKP Cargo operates as a subsidiary of Polish state-run railway operator Polskie Koleje Panstwowe (PKP) SA.

The London-based development bank will have to make a disclosure about its holding in the freight company, as it will certainly be over 5%, a person with knowledge of the matter told the news agency.

PKP Cargo's floatation in Warsaw was worth an aggregate PLN1.42bn (USD468.1m/EUR339.5m), according to Reuters. The price per share was set at PLN68.00.

EBRD said earlier this month it was willing to acquire an interest of up to 7.5% in the PKP Cargo.Target: PKP Cargo SA Buyer: Other investors, The European Bank for Reconstruction and Development (EBRD)Type: StakebuildingStatus: SpeculationComment: Entire deal is worth USD468.1m, accoridng to Reuters.

COPYRIGHT 2013 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Date:Oct 29, 2013
Words:174
Previous Article:BMW not looking to buy more of SGL Carbon.
Next Article:Darling Intl finalises acquisition of Rothsay.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters