Profil:
PKP Cargo SA w restrukturyzacjiPKP Cargo hauler sells shares in two subsidiaries
Listed rail hauler PKP Cargo's subsidiary, PKP Cargo Connect, is selling its stake in transshipment terminals unit Terminale Przeladunkowe Slawkow-Medyka (TPSM), PKP Cargo said in a market filing, which in turn wants to sell its stake in Euroterminal Slawkow.
PKP Cargo Connect has a 50 percent stake in the capital of TPSM with a nominal value of PLN 21.4 million (EUR 5.05 mln).
At the same time, the management board of PKP Cargo agreed to take directional measures to prepare the process of selling all the shares it holds in the subsidiary Euroterminal Slawkow. PKP Cargo holds 9.316 percent of shares in this company with a nominal value of PLN 17 million (EUR 4 mln).
The company is currently in talks with the Poland's state development agency ARP on the disposal of its shares in Euroterminal Slawkow.
The two companies involved in the decisions to divest the shares are related in terms of business, function and capital.
The sale of shares by PKP Cargo requires granting of separate corporate approvals by the relevant corporate bodies of the company and PKP Cargo's administrator.
The divestment of shares will enable the creation of an appropriate framework for the development of these entities in view of the current situation of PKP Cargo, which is in the remedial estate process.
pr/ ao/
