Exbud announces a public tender for shares of GPRD

The Warsaw Stock Exchange (WSE) suspended trade in GPRD's stock. The tender will last from March 16 until April 16. Exbud is offering zl. 14.7 per share and is looking to hold 1,934,000 of GPRD's shares after the tender, which is a 49.99% stake. In the event the company holds more than 50%, Exbud will sell the surplus shares within two weeks. Early in the year, the two builders signed an agreement to allow Exbud to take 48.9% of the Gdansk-based roadbuilder. Exbud pledged not to delist GPRD. The Gdansk firm has 7.5 million shares outstanding and its main shareholders are: a construction company Mostostal Gdansk and shipyard Stocznia Gdynia. Mostostal Gdansk is also interested in taking over control of GPRD. (Rzeczpospolita, page 19, Reuters)