The bitter battle for the acquisition of Prospan

The latter seems to be in a better position to win the battle, as it already controls a 57% stake in Prospan. "If transparency of the privatization is maintained, then there is a chance that we might acquire the stake," said Tomasz Janczak, proxy of Polspan, a company from Kronospan group, which officially submitted the bid. He went on to say that possibly in the long-run Grajewo may decide to withdraw from the investment and then Kronospan could acquire the whole of Prospan. "The acquisition of Prospan by Kronospan would mean the creation of a company which would jointly control almost half of the domestic market, and would not be accepted by the competition watchdog. Moreover, I can strongly declare that we will not sell these shares," said Paweł Wyrzykowski, president of Grajewo. Kronospan declared it was planning to create the largest group producing chipboards in the world. (Puls Biznesu, pp. 1, 8) M.M.