Treasury sells minority stake in Ruch press distributor

APA - Austria Presse Agentur
opublikowano: 28-12-2005, 16:19

Warsaw (Puls Biznesu) – The Ministry of Treasury decided to sell a minority stake in Ruch press distributor.

Warsaw (Puls Biznesu) – The Ministry of Treasury decided to sell a minority stake in Ruch press distributor.

We want to keep 50 percent plus one share. We do not know whether the rest of shares will be sold at once or in stages, Barbara Kasprzycka, the spokesperson of the Ministry said.

Why no strategic investor will be allowed into the company?

We do not want one of publishers to acquire Ruch in the future. The company is obliged to distribute every title and should provide for pluralism also in the future, Barbara Kasprzycka added.

The idea was not welcome by Zbigniew Jakubas, a private investor who once built Polska Grupa Kapitalowa in order to buy Ruch and is still interested in the stake.

If the Ministry wants to keep control over Ruch, I doubt if they will get the price they expect, Zbigniew Jakubas said.

Other potential buyer is Empik Media & Fashion.

Meanwhile, the Ministry is preparing an IPO of Ruch. The securities and exchange commission has already received the issue prospectus. The distributor plans to raise PLN 120m (EUR 31.3m) in the issue. The ministry might sell its stake with the new issue.

(PLN 1 = EUR 0.261)


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Podpis: APA - Austria Presse Agentur