PFR with preliminary investment deal for Pesa

The Polish Development Fund (PFR) has signed a preliminary agreement regarding investment in rolling stock producer Pesa. “The Polish Development Fund has concluded an initial agreement regarding the investment in PESA and currently has the right to exclusive negotiations,” PFR CEO Paweł Borys said. According to media sources, PFR will cover PLN 200 million loan granted in November last year and will invest PLN 100 million in the development of the company. Company’s current owners Tomasz Zaboklicki, Zenon Duszyński, and Zygfryd Żurawski, as well as four other shareholders, will remain the shareholders of Pesa. In November last year, Pesa owners pledged to obtain an investor before the end of March this year. The company needed an investor due to problems with financial liquidity, lack of funds for the execution of contracts and difficulties in obtaining insurance guarantees necessary for new contracts.