Mostostal merger hopes to bring richer rewards

Construction company Mostostal Siedlce, which intends to merge with Polimex Cekop (PC) will nearly double its capital as a result of issuing around 9 million shares for PC shareholders, the companies announced at a press conference. "The merger will help increase the companies value," said Polimex president Konrad Jaskóła. He added, that thanks to the merger Polimex-Mostostal Siedlce would be able to win larger contracts and take advantage of its processing potential. The companies management boards estimate that the costs of the merger will be around zł. 0.6-1 million. Currently, Polimex's majority shareholders are Handlowy Investments and PIP Management Limited, who hold over a 36% stake each. 15% belongs to the Treasury Ministry and 12% to minority shareholders. After the merger, Mostostal intends to take over two other publicly listed companies from the PC group: Naftobudowa and ZREW. (Puls Biznesu, p. 6) A.Z.