Seba to sell its shares in Hydrobudowa Śląsk following aborted takeover

Katowice-based Seba, a company which specializes in coal and credit trading, has withdrawn from its plans of a hostile takeover of Hydrobudowa Śląsk. Seba began accumulating shares of the publicly listed construction company in mid January this year. It also announced it was doing so in cooperation with the company's main shareholders, NFI Jupiter and Energopol Południe (EP). "We acquired more than 6% of the share capital, but we will not accumulate any more. We are currently unable to state whether such an investment would make sense," said Artur Kisiel, the head of Seba. Kisiel also announced that due to cancellation of his plans, he is now looking for an investor who will buy his stake. EP representatives also announced plans of selling their stake. "We are searching for a buyer because our company needs the money," said EP's spokeswoman, Gabriela Głogowska. Hydrobudowa Śląsk closed the 2002 financial year with a net profit of zł. 506,000 and revenues of zł. 111.8 million. (Puls Biznesu, p. 8) A.K.