British investor likely to put Trans Universal Polska back into shape

UK-based Eagle International Transport (EIT), the 87% owner of Trans Universal Polska (TUP) truck transporter, has put out a call to buy the remaining stock at 45gr per ordinary share, a little above the company's current listing on the Warsaw Stock Exchange. In case of preferred stock, not listed on the Warsaw bourse, the price would be zł. 1.43 per share. On December 30, EIT bought 3.4 million shares of preferred stock, mostly from Universal and TUP's chairman Władysława Sobański. The company said it was not planning to delist TUP from the floor over the next three years and would invest zł. 10 million in the firm. Spun off by now-defunct Universal in 1998, TUP lost zł. 4.4 million on sales of zł. 28.1 million last year. (Parkiet, p. 3) J.K.