Rivals resolve dispute over control of Irena by offering combined 75% stake

Miroslaw Kielecki and Minex, the main shareholders in Huta Szkla Irena, are reported to be planning to sell their majority holding in the glassworks. According to an anonymous source quoted by Rzeczpospolita, BRE Corporate Finance, which represents the two shareholders, has stated they will offer potential investors a 75% stake in Irena. The Kielecki family, which owns 41.2% of Irena, and Minex, holder together with its ally Kredyt Bank of a 35.4% stake, have been battling each other for control of the glassworks. It is believed they have now reached the conclusion that a consolidated withdrawal, allowing them to offer a controlling stake in the company, will help them negotiate a higher share price. (Rzeczpospolita, p. B3) A.Z.