Centrostal Gdańsk president attempts MBO

Zbigniew Canowiecki, president of Centrostal Gdańsk, will file a motion to the Securities and Stock Exchange Commission (KPWiG) to acquire an over 49% stake in this company. "I believe the operation could be concluded later this year," said Canowiecki. He already controls 26.44% of shares directly and indirectly. He will try to increase his stake substantially but, "Most likely I will not purchase the whole stake. My private savings will allow me to increase my share in Centrostal by roughly 10%," explained the president. He might carry out the transaction either through a direct purchase of shares from the bourse or through striking a deal with another large shareholder. Centrostal recently tidied up its relations with Ispat Polska Stal. "We have a commercial contract, but currently we are not discussing any potential capital links," explained Canowiecki. (Puls Biznesu, p. 11) M.M.