As expected, Poland’s Industry Development agency (ARP) is take over two Polimex- Mostostal subsidiaries: Energomontaż Pólnoc-Gdynia and Fabryka Kotłów Sefako. According to the daily Puls Biznesu, the deal could be worth PLN 119m. The state, however, says this will be the last deal it will ever make with Polimex, as it does not intend to buy out any more indebted companies.
“We’re not interested in buying more assets from Polimex,” says Piotr Słupski, vice-president of the state-owned fund Mars TFI, that took over the companies. Market watchers claim Polimex could be dissapointed with the price it got from the state, as the companies are said to be worth PLN 200m. “At this stage, the price is not a priority for Polimex, as the most important issue is the cash-flow,” says Adrian Krycz of BZ WBK.
