Vantage accumulating land for new Wrocław project

A subsidiary of developer Vantage Development has signed a preliminary conditional agreement for the acquisition of a developed plot of land located on ul. Buforowa in Wrocław where the company wants to develop around 300 apartments. Earlier this month, Vantage Development announced the signing of a...

Locked content Vistal Gdańsk bankruptcy proceedings annulled

The Gdańsk district court decided to drop the bankruptcy proceedings of the WSE-listed steel construction producer Vistal Gdynia. Such ruling had to be made as Vistal filed for remedial proceedings after filing for bankruptcy, and according to Polish bankruptcy laws “A bankruptcy of an entrepreneur ...

Carrefour revamping Chorzów shopping mall

Retailer Carrefour Polska is now modernizing its AKS shopping center in Chorzów in Silesia. The company is remodeling the interior and the façade of the mall with the investment scheduled to be completed by the end of this year. AKS has recently also got an additional more than 2,000 sqm of space th...

Locked content Benefit acquisition deal under UOKiK scrutiny

WSE-listed employee benefits program operator Benefit Systems deal to purchase Calypso Fitness has raised objections from the antitrust watchdog UOKiK, which is worried that it could limit competition in the markets of sports and recreational packages offered to employers and provide access to sport...

Locked content GDDkIA with PLN 1.1 bln deals for S14 expressway

WSE-listed builder Mirbud, along with PBDiM Kobylarnia filed the lowest offer in the tender to build a section of the S14 expressway near Łódź with road authority GDDKiA. The bid is for PLN 533 million, and according to GDDKiA it constitutes 87.38 percent of what it earmarked for the project. The se...

Locked content mBank with a deal to sell mFinanse

WSE-listed mBank, signed a conditional deal to sell part of its unit mFinanse to Phoebe IVS for up to PLN 520 million, the company said in a market filing. “The organized part of enterprise forms a separated business activity consisting in provision by mFinanse acting in the capacity of an insurance...

Locked content Aflofarm with PLN 26 mln fine from UOKiK

Antitrust watchdog UOKiK has slapped a PLN 26 million fine on pharma producer Aflofarm Farmacja Polska. The fine is for the misleading commercial of Aflofarm’s sinus infection Renopuren dietary supplement which “were advertised in a manner suggestive of actual medical properties.” According to Polis...

Locked content Kernel profit drops

WSE-listed edible oil producer, Ukrainian Kernel Holding had a $22.82 million net profit for the Q1 financial year (between July-September), the company said in a market filing.  The result was 64.4 percent y/y lower, while EBIDTA dropped by 36.5 percent y/y to $46 million. Revenues increased by 39....

Locked content Record-high number of Chinese tourists in Poland

According to the Polish Tourism Organization POT, as many as 130k Chinese tourists will visit Poland this year. Previous POT estimates have put that figure at some 100k, but that threshold has been broken at end-Q3. So far, till end-Q3, 103,451 Chinese (excluding Hong Kong and Taiwan) visited Poland...