Karswell bids on 11.5% stake in Elektrim

Karswell Limited, controlled by one of the richest Poles, Zygmunt Solorz, is bidding on 9.7 million shares of the delisted industrial Holding Elektrim at PLN 14 apiece.

The tendered stake accounts for some 11.57 percent shares in the company. Solorz already controls 78.42 percent of Elektrim, through his other subsidiary, Bithell Holdings.

Elektrim was listed on the Warsaw Stock Exchange between 1991-2008. It owns several entities including listed power utilities, Zespół Elektrowni Pątnów-Adamów-Konin, or huge developer project in Warsaw, Port Praski. Last year it had PLN 2. Billion revenue and PLN 75 million net loss.

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