Middle East shareholders to force Panceltica privatisation

摘要

The Middle Eastern shareholders of listed structural steel contractor Panceltica look set to take it private, plunging the fate of the firm into fresh confusion this week.rnAccording to sources close to the situation, Qatari shareholder Barwa and Dubai investor Ithmar want to de-list the company from the alternative investment market, despite the fact both voted against the move at an extraordinary general meeting last week.rnThe proposal had been tabled by Ithmar vehicle Strategic Partner, but it is understood both shareholders agreed to hold off and review the plan after minority investors voiced their opposition.