AKB Corp poised to cash stake in chemical firm Polymeri _x000d_
18.10.2005
Source: Dnevnik
The shareholders of Bulgarian former privatisation fund AKB Corporation approved on Monday, October 17, a proposal to offload the company's 60.58% interest in chemical plant Polymeri. No further details will be released at this point, said Sotir Iliev, executive director of AKB Corporation. He did not rule out the possibility that the stake may be broken up and sold to different buyers. Some market watchers said there may be no takers for the Polymeri stake and speculated that the disposal aims to rid the AKB portfolio of the chemical company. Polymeri, with a market capitalisation of 24.07 mln levs, is co-owned by the Bulgarian Holding Company with a stake of over 27%. AKB owns interests in some 20 companies but the Polymeri stake is considered to be the most attractive in its portfolio.