Mid Europa fund plans to float stake in Poland’s PKL this year: Reuters

Private equity firm Mid Europa Partners (MEP) plans to sell a minority stake in Polish mountain tourism firm Polskie Koleje Linowe (PKL) in an initial public offering (IPO) later this year, one of its partners told Reuters.

“We plan PKL’s debut this year … We want to maintain control over the company,” Zbigniew Rekusz said.

He added the brokerage unit of Polish state-run lender PKO BP and Pekao IB were working on the IPO.

MEP bought PKL in 2013 from state-owned railway firm PKP. The ruling Law and Justice party (PiS) has criticized the former government for selling PKL to a foreign investor and has said it will attempt to buy it back.

Last month MEP agreed to sell Polish retail chain Zabka to CVC Capital Partners private equity fund in a deal valued by local media at around 1 billion euros.