Pekaes decides against flotation and turns instead to Privatization Agency

Pekaes, the leader on Poland's road transportation market, has decided against entering the Warsaw Stock Exchange (WSE). Instead the company has turned to the Privatization Agency (AP) to find an investor. According to Janusz Rolicz, an AP representative, the privatization of Pekaes will take place through a public invitation to enter into negotiations. Within the coming weeks, the agency is to announce a bid for conducting the pre-privatization analysis. The AP is seeking a sector investor who is willing to buy up more than 51% of the company's shares. According to unofficial sources, a number of potential investors have already expressed an interest in Pekaes. Among them are believed to be such large international concerns as Schenkel BTL, Danzas and DFDS. In the first half of the year Pekaes recorded a net loss of zl.8.8 million. (Puls Biznesu, p. 3) A.K.