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Murapol to take over Polnord?

11 January 2018

POLAND “Murapol is thinking of buying more Polnord shares,” Michał Sapota of Murapol’s supervisory board has announced.

Late in December 2017 the Murapol Group purchased 1.63 mln shares in Polnord for over PLN 18 mln, thus increasing its stake in Polnord to 9.87 pct. “We consider the current valuation to be very attractive when considering the land bank owned by the company. In the medium-term, Polnord has the potential to substantially increase the scale of its activities,” claims Michał Sapota. “Currently, we are treating this holding as one of numerous components of a passive portfolio. However, in the future, if other shareholders and the board approve, we might increase our stake in this company,” he adds. In H1 2017 Murapol purchased a 55.48 pct holding in construction firm Awbud, which when combined with the shares that the company already owned means that the company now holds a 66 pct stake. In June 2017 Murapol bought 32.99 pct stake in Skarbiec Holding, the owner of fund manager Skarbiec TFI.

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