Mostostal Krakow shareholders unanimously agree to Budimex merger

Shareholders of construction company Mostostal Krakow decided unanimously to merge with construction company Budimex yesterday. The share exchange ratio will be five shares of Mostostal to two new shares of Budimex. On Tuesday shares of Budimex were valued at zl. 18 and those of Mostostal Krakow at zl. 10.20. "The effect of the merger will be the general holding Poludnie, which will be created from all companies that are in our capital groups," said Tomasz Sliwinski, head of Mostostal Krakow's management board. The shareholders of Budimex will decide today about the merger which is only a formality as Budimex's strategic investor, Ferrovial, supports the idea. (Parkiet, page 1,2) M.M.