NCC withdraws from PIA Piasecki takeover negotiations

Swedish construction firm NCC has withdrawn from the takeover bid negotiations on domestic construction company PIA Piasecki, due to a change in NCC's Polish market strategy. "Poland was always an important market," said NCC president Alf Goeransson. "However, we have to review our investments in this country. Given current construction sector conditions, we will concentrate on the Scandinavian market and limit our foreign investments." NCC Polska president Janusz Puzia stated that the company will not continue with any takeover bids for the rest of the year. According to Puls Biznesu, the construction concerns Dragados of Spain and Besix of Belgium remain interested in the bid. (Puls Biznesu, p. 7) P.J.