Libet managers get takeover approval

Poland’s Office of Competition and Consumer Protection has approved the takeover of concrete elements producer Libet by its managers, Thomas Lehmann, Ireneusz Gronostaj and Jerzy Gabrielczyk, the company said on Wednesday. The controlling stake in Libet was sold by private equity fund Innova Capital. Financial details of the transaction, agreed on in April this year, were not disclosed. “The results of the company in the past years and the significant strengthening of its market position show that our business assumptions were correct,” Lehmann was quoted as saying. He added that Libet could carry out takeovers. “We are constantly analyzing the market for possible acquisitions of factories,” he said. “One of our many goals in the purchase of gravel quarries. We do not rule out that the first deals could take place this year.”