Invest-Bank reorganizing investments to sell off stakes in order recover losses

According to an agreement signed in July, Invest-Bank will receive at least a part of zl. 25 million it had invested in troubled car seller Polskie Towarzystwo Samochodowe Konsorcjum Spoldzielcze (PTS). To start with Invest-Bank took over a majority stake in pharmaceutical company Wielkopolskie Zaklady Farmaceutyczne Bio-Win (Bio-Win) which was part of the PTS group. "We plan to sell it to another investor from the farmer-beverage sector by the end of the year. We are conducting talks with a foreign investor. This will allow us to make up some of last year's losses, which amounted to zl. 37 million," said Invest-Bank vice-president Janusz Kaliszyk. Invest Bank owns 5-10% stakes in many companies along with PTS. The company is now trying to regroup their stakes, in order to sell them jointly. Polsat owner Zygmunt Solorz has owned Invest-Bank since 1999 and has been trying to recover its investments in PTS since taking over. (Puls Biznesu, page 1, 5)