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Issue #589

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2014 Media Kit
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EBRD buys 5-7.5 pct stake in Poland’s PKP Cargo

By: | at 03:47 PM | Intermodal  

The European Bank for Reconstruction and Development bought a stake of between 5 percent and 7.5 percent in Poland’s PKP Cargo in the freight company’s Warsaw share sale earlier this month, a market source said.

Polish state railway PKP priced the initial public offering (IPO) of its rail freight subsidiary PKP Cargo at 68 zlotys per share, valuing one of Warsaw’s biggest listing this year at 1.42 billion zlotys ($468.41 million). EBRD said in October it wanted to buy a stake of up to 7.5 percent in PKP Cargo.

“EBRD will have to reveal its stake, as it will definitely exceed 5 percent,” a person familiar with the case told Reuters.