26 May 2004 03:47
Glaverbel could up stake in Borsky Glass Works to 83%
NIZHNY NOVGOROD. May 26 (Interfax) - Glaverbel of Belgium may increase its stake in Borsky Glass Works, a major
polished glass manufacturer in Nizhny Novgorod, to almost 83%.
Glaverbel would buy 38.5% from the European Bank for Reconstruction and Development and the International Finance
Corporation (IFC), which each own 19.25%, Stepan Popovich, the general director of Glaverbel Central and Eastern Europe
and a member of the Borsky Works board, told Interfax.
Glaverbel has signed an agreement with the EBRD and IFC, in which it receives the right to buy the shares if these
organizations decide to pull out of the glass works, which could happen in 2005, Popovich said.
Glaverbel is also ready to buy shares from minority shareholders, he said. [RU ASIA EUROPE EEU EMRG BE WEU CORA BLD
MRG STX WEU BNK] me
[Interfax] |
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