News Parkiet

Civil engineering

Private investor takes over PRInż

Zbigniew Opach, a private investor from Warsaw, bought a majority stake in Silesian road building company PRInż, snatching the company from Polimex-Mostostal, a publicly traded building contractor.

Mr. Opach says Sweden?s NCC, which has a 48 percent stake in PRInż, has already agreed to sell its shares, giving him total control over the company.

Opach plans to give PRInż, one of Poland?s major regional road-building groups, a loan totaling ?several million zloty? to help the company regain its financial balance. It two or three years PRInż may be folded into publicly traded Mostostal, which is also controlled by Zbigniew Opach.

Petrochemicals

Orlen eliminated from Tupras bid

PKN Orlen refinery dropped out from the auction for Turkish oil refiner Tupras in the second round of bidding, once the top bid reached $3 billion. One of nine contenders for Tupras, Polish firm sought to buy Tupras together with Turkey?s Zorlu Holding.

Retailing

Bank Austria sells stake in NFI EMF

Bank Austria sold its 6.7 percent stake in Polish multimedia and book retailer NFI EMF during a recent stock buyback. The company offered to buy about 60 million zloty worth of outstanding stock using proceeds from the sale of Young Fashion clothing retailer.

Power industry

BOT plans stock market listing

Poland?s biggest energy group BOT said it plans to raise as much as 2 billion zloty ($640 million) in an IPO scheduled tentatively for the fourth quarter of 2006 or early 2007. State-owned company said it needs that much money to restructure its operations and complete the merger of several power plants and lignite mines that make up BOT.