Impexmetal suspends sale of minority stake in Aluminum Konin

Publicly listed Impexmetal, a company specializing in the production and trade of metal products, has received only three offers for its stake in Aluminum Konin, two from foreign investors and one domestic. Impexmetal has sent a memorandum concerning the offer to eleven companies. Additionally, the interested companies did not fulfill the expectations of the seller. "Unfortunately we will have to suspend the sale. Our intention was to sell a minority stake, while the investors wanted to buy a majority of the shares," said Krzysztof Adamski, a member of Impexmetal's board. One of the interested parties was another listed company, Zakłady Metali Lekkich Kęty. It was earlier speculated that Kęty might be interested in taking over Impexmetal. The company owns 88% of shares of Konin, and the sale was to help the company repay liabilities of around zł. 650 million. (Puls Biznesu, p. 9) A.K.