Ferrovial takes majority stake in Budimex without tender
Spain-based company Ferrovial announced yesterday it possesses 58.5% of
shares of Polish construction company Budimex S.A., which gives it 46.35%
shareholder votes. This means the Spanish company has bought over 20% of
Budimex's shares since the beginning of last week, paying zl. 42 per share.
Two weeks ago Ferrovial said it plans to become a strategic investor in
Budimex. It wants to gain 49.9% of shareholder votes since it has permission
from the Securities and Stock Exchange Commission (KPWiG). As a result,
small investors are selling their shares, for as little as zl. 31.5 per
share, since they cannot expect Ferrovial to buy shares through a public
bid. (Gazeta Wyborcza, April 15-16, page 34) K.S.
