Poland's Budimex to complete acquisition of railway builder PNI by end-Oct 2011.

By bne IntelliNews October 18, 2011
Poland's largest builder Budimex, a unit of Spain's Ferrovial, will complete the PLN 225mn acquisition of railway construction company Przedsiebiorstwo Napraw Infrastruktury (PNI) from state rail operator PKP by the end of October, the buyer said in a market filing. So far it has received all necessary permits and is only yet to complete the due diligence. Budimex explained the takeover with willingness to expand its presence in the infrastructure sector. The deal will require regulatory approval before coming into effect. The negotiations that took four months resulted in Budimex's commitment to invest in PNI and strengthen its position on the market.

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