Locked content Gino Rossi: Simple sale will help us trim debt

WSE-listed fashion retailer Gino Rossi hopes that sale of the Simple brand will help the company curb its debt and obtain funds to boost working capital, company’s CEO Tomasz Malicki said. “Thanks to the sale, we will reduce debt and free the funds needed to supply the working capital necessary to i...

Locked content Ski jumpers with Olympic bronze

The Polish men’s ski jumping team won the bronze medal at the PyeongChang Winter Olympic Games. The team consisting of Maciej Kot, Stefan Hula, Dawid Kubacki, and Kamil Stoch was defeated by Norway who took the gold with a 22.8 points lead over Germany, which Poland trailed by 3.3 points. For Norway...

Housing permits soar in January – GUS

In January, the number of dwellings in which construction has started inched down y/y by 24.5 percent to 13,949, according to data released by the Central Statistics Office (GUS), in m/m terms it dropped by 16.9 percent. Moreover, the number of dwellings completed dropped by 11.7 percent y/y to 13,5...

Locked content Government support inches down – CBOS poll

The recently appointed government of Mateusz Morawiecki has 40 percent support dropping by 2 percentage points, according to the latest poll by CBOS. The number of its opponents reached 17 percent up by 3 percentage points. Morawiecki himself enjoys 53 percent support (down by 1 percentage points), ...

Locked content OFEs won’t sell Tarczyński shares depite price hike

A group of Open Pension Funds (OFE) informed that they will not be responding to the tender offer for WSE-listed meat processor Tarczyński despite the recent price hike to PLN 12.6 apiece from the previous PLN 10.5 price tag. The group includes OFE Aviva BZ WBK which holds 14.37 percent stake, and, ...

Locked content WSE mulling selling Aquis stake

WSE-listed operator of the Warsaw Stock Exchange GPW will launch talks for the potential sale of its 20.3 percent stake in the European equity trading platform Aquis, the company said in a market filing. The sale is conditional on Aquis going through with its planned IPO. “The terms, conditions and ...

Locked content Monnari wants to buy Simple brand

WSE-listed fashion retailer Monnari filed a non-binding offer to WSE-listed peer Gino Rossi to acquire 100 percent stake in Simple Creative Products, which owns Simple brand. The offer is between PLN 46-50.5 million assuming zero level of debt and cash which will be the basis for determining the fin...

Locked content Benefit with Calypso Fitness M&A deal

WSE-listed employee benefits program operator Benefit System signed a deal regarding an eventual takeover of fitness club chain Calypso Fitness. According to the deal, Calypso will be divided into three parts, which at a later date, through a number of subsidiaries will be sold to Benefit’s unit Fit...

Locked content Saturn TFI to acquire IR FIZAN

Investment fund Saturn TFI submitted a motion to the antitrust watchdog UOKiK regarding the takeover of the Inwestycje Rolne (IR) FIZAN fund. IR FIZAN was created and managed by FinCrea TFI, which lost its KNF license in November last year. The fund is currently represented by the depositary, Raiffe...

Locked content Unum Group files Pramerica Życie takeover motion

US insurer Unum Group filed a motion to the antitrust watchdog UOKiK to takeover Pramerica Życie Towarzystwo Ubezpieczeń i Reasekuracji. The application was received on February 13, the case is pending. Unum Group is an entity providing financial protection in the US and the UK. Its products include...