Locked content Czerwona Torebka has buyer for Małpka

Shopping center operator Czerwona Torebka has signed a preliminary agreement to sell convenience store network Małpka to Cyprus-registered firm Forteam Investments, the company said in a recent news release. The deal value is PLN 362.34 million. The takeover is subject to approval from the Office of...

Locked content PGE and ZA Puławy scrap power plant project

Fertilizer producer Zakłady Azotowe Puławy (ZA Puławy) from the Grupa Azoty chemical holding and PGE GiEK, a subsidiary of power utility PGE have withdrawn from a mutual plan to build a combined heat and powwr plant in Puławy, the chemical firm said in a recent statement. The companies have decided ...

Retail sales records decline in November

The volume of retail sales in Poland inched down by 0.2 percent year-on-year in November, according to the monthly statistical bulletin issued by the Central Statistical Office (GUS) on Tuesday. In month-on-month terms retail trade declined by 8.1 percent.

Unemployment rate at 11.4%

The registered unemployment rate in Poland stood at 11.4 percent in November, according to data published on Tuesday by the Central Statistical Office (GUS). The figure is in line with an estimate released in early December by the Ministry of Labor and Social Policy.

Locked content Kerdos preparing for new investor

Cosmetics and hygienic products retailer Kerdos Group expects to attract a strategic investor by March 2015, the company said in a statement on Monday. It also announced several capital group restructuring moves. Kerdos has raised capital in Luxembourg-based Meng Drogerie. It now controls 25 percent...

Locked content Innova Capital exits Libet

Private equity fund Innova Capital has sold its 30 percent stake in construction materials producer Libet to an entity controlled by its managers, the fund said in a statement on Monday. The deal value was not disclosed. The transaction was carried out as a series of block trade deals on the Warsaw ...

Locked content Education minister dismisses over e-textbooks

Several employees of the government’s Centre for Education Development have lost their jobs after the intervention of Education Minister Joanna Kluzik-Rostkowska, Polish Radio reported. They had been responsible for electronic textbooks for Polish schools. Kluzik-Rostkowska has said she was no...

Locked content UPC Polska makes another acquisition

Cable TV and telecommunications services firm UPC Polska has acquired local peer Azart-Sat, the company said in a statement. Financial terms of the deal were not disclosed. Azart-Sat is an internet, phone and TV services provider focused on the Lower Silesia and Opolskie voivodships in southwestern ...

Locked content Poland interested in new credit line – IMF

Polish authorities have approached the International Monetary Fund, showing interest in a new flexible credit line (FCL) from the institution, IMF First Deputy Managing Director David Lipton said in a statement on Friday. “I welcome the Polish authorities’ interest in a new two-year FCL arrangement,...

Locked content Insurers record PLN 5.65 bln profits in Q1-3

Insurance companies registered in Poland generated an aggregated net profit of PLN 5.65 billion in Q1-3 2014, according to data published by the Central Statistical Office on Friday. In Q1-3 2013 the figure was PLN 8.16 billion. Gross written premiums stood at PLN 40.79 billion in January-September ...