EBRD reportedly purchases up to 7.5% in PKP Cargo.
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.