Stalexport fears its future after PHS privatization

The management of steel trade company Stalexport hopes that the future inve stor in Polish Steel (PHS), will also become a majority shareholder in Stal export. The reason for the company's interest in the investor is the fact t hat over 50% of the Stalexport's revenues come from trade with PHS. Stalexp ort has already negotiated with both potential investors, US Steel and LNM. "We will return to the negotiations after the investor for PHS has been cho sen," said Emil Wąsacz, the head of Stalexport. The hopes of the company's management might come to life, as they have successfully managed to recently change part of its liabilities into shares and this will impact on the shar eholder structure, as the European Bank for Reconstruction and Development (EBRD), which currently holds a 30% stake will no longer be in control of t he company. (Puls Biznesu, p. 4) A.K.