Bloomberg News

PBG Jumps as Creditors Withdraw Motions for Dromost Bankruptcy

May 22, 2012

PBG SA (PBG), Poland’s third-largest construction company, climbed for the first time in six days after creditors withdrew motions to declare its Dromost unit bankrupt.

The shares rose as much as 5.3 percent to 20.56 zloty, and traded 5 percent higher at 20.5 zloty as of 9:02 a.m. in Warsaw. PBG slumped 71 percent this year, compared with a 1.9 percent decline for the benchmark WIG20 Index.

The creditors Andrzej Kasprzak and Multibud sp. z o.o. withdrew motions to declare the Dromost unit bankrupt after the sides reached an agreement on the company’s debt, PBG said yesterday in a statement. Dromost owed Kasprzak 863,126 zloty ($256,000) in April.

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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