PBG eyes 25 pct in Polish rival for $15.4 mln-paper

WARSAW, June 27 (Reuters) - Polish builder PBG PBGG.WA wants to buy 25 percent of its local rival Energomontaz-Poludnie EMPD.WA for 50 million zlotys ($15.43 million), PBG Chief Executive Jerzy Wisniewski was quoted as saying on Saturday.

"At this moment, we are interested in having passive control, that is buying shares from a new issue that amount to about 25 percent of the votes," Wisniewski told daily Parkiet in an interview.

Wisniewski said the transaction could be completed in the third or fourth quarter. He did not rule out increasing the stake in Energomontaz in future.

PBG shareholders approved this month a share issue valued at almost 200 million zlotys to help fund takeovers. The company, which is valued at 2.97 billion zlotys, is eyeing three potential targets.

Energomontaz is valued at 225 million zlotys. (Reporting by Karolina Slowikowska; editing by Sue Thomas)