EBRD could join consortium to buy Presspublica

A consortium of Presspublica Holding Norway (PHN) controlled by Orkla Media and the management of Rzeczpospolita (Rzepa Holding) has offered to buy 49% of Presspublica from the State Treasury and thus take control over the newspaper publisher. PHN’s current stake in Presspublica is 51%. According to Puls Biznesu the European Bank for Reconstruction and Development (EBRD) is considering joining the consortium which would purchase the shares owned by the state. Should the three entities agree on the deal each of them would receive 16.33% of the publisher's shares, and after five to seven years the EBRD would sell its stake to its partners. The bank would also grant Rzepa Holding a loan, which would be guaranteed by Orkla Media. If successful the takeover would be followed by a 500,000 share issue to be distributed among Presspublica employees. (Puls Biznesu, p. 9) J.K.