ARP sold 300 mln Polimex shares to SPV

The Polish Industrial Development Agency (ARP) sold 300 million shares in troubled construction company Polimex-Mostostal to subisidary SPV Operator, the agency announced Friday. The shares constitute 20.44 percent of Polimex-Mostostal initial capital. “The transaction was conducted outside of the regulated market and the result of an in-group asset allocation”, said ARP deputy CEO Jerzy Góra. It does not change anything in the ARP's strategy toward the firm. Polimex-Mostostal is a large Polish construction company, with a consolidated revenue of PLN 2.4 billion as of 2013.