Lone Star may sell it stake in Polish property group GTC: Reuters

WARSAW (Reuters) – Private equity firm Lone Star, a majority shareholder in Poland’s GTC is considering selling its 61.13 percent stake in the Warsaw-listed real-estate developer to a strategic or financial investor, GTC said on Tuesday.

GTC also said that Lone Star has hired J.P. Morgan and UBS to help it review its options regarding its investment in GTC. Lone Star does not plan to sell any of its shares in GTC on the stock exchange via an accelerated book building, GTC added in the statement.

Shares in GTC, whose portfolio includes real-estate assets in Poland, Hungary, Bulgaria, Romania, Croatia and Serbia, gained almost 20 percent last year, but have fallen by around 7 percent since the start of 2018, valuing the company at around 4.31 billion zlotys ($1.26 billion).