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VIS to Invest in Polimex

Russia's VIS Construction Group is ready to invest at least 100 million euros ($125 million) in a share issue that could be launched by beleaguered Polish builder Polimex, daily Parkiet cited a source close to the Polish firm as saying.

The paper said VIS Construction Group is at the last stage of decision-making on the matter and was waiting for opinions from Polish lawyers on the structure of the potential deal, the daily reported.

Polimex shares have slumped 64 percent this year after dropping 59 percent in 2011, as the group struggles with huge debts and declining margins on its contracts.

(Reuters)

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