Labyrinthine deal sets stage for merger between Ster-Projekt and ABG

This will be an attempt to merge both companies with the hope to build one of the largest companies in the sector, ABG Ster-Projekt, with capital exceeding zł.450 million. The first phase of the whole operation is a signed contract between Prokom and Net Technology. Prokom, a Gdynia-based company, which currently controls a 2% stake in ABG, is to purchase another 41% of shares in the company from Net Technology. Prokom will pay zł.103 million for the stake, out of which zł.24.1 million will be paid using own funds and bank loans, while the remaining sum will be regulated in liabilities which ABG owes Prokom. The next step envisages an increase in capital in Ster-Projekt through a share issue, which will lead to the owners of ABG holding a stake of 72.6% in ABG Ster-Projekt. Through these transactions ABG has managed to use the back door to find itself on the WSE. (Parkiet, p. 3) A.K.