Locked content EU to investigate tax incentives for Polish shipyards

The European Commission has launched an investigation into tax incentives for Polish shipyards as it is concerned it might give them an unfair competitive advantage. Under the new law introduced in September2016, shipyards are allowed to pay a 1 percent flat tax rate on sales from shipbuilding and c...

Locked content ARP submits offer to buy Gdańsk shipyard

State-run Industrial Development Agency (ARP) has filed an offer to Ukranian Gdańsk Shipyard Group the owner of the Gdańsk shipyard to takeover the troubled facility. ARP wants to also acquire shares in GSG Towers a company also controlled by Ukrainian businessman Serhiy Taruta. “We have made a fair...

Locked content Electricity consumption inches down 0.44% y/y in December – grid...

Electricity consumption decreased by 0.44 percent y/y in December to 14.91 TWh, while production dropped by 3.73 percent y/y to 14.65 TWh, the national grid operator PSE said. In 2017, the consumption amounted to 168.14 TWh, a 2.13 percent y/y increase, while production reached 165.85 TWh, a 1.98 pe...

Locked content GetBack acquires €637 mln debt portfolio in Spain

WSE-listed debt collector GetBack acquired debt portfolios with a combined nominal value of €637 million from an unnamed Spanish bank, the company said in a market filing. This was the first such purchase in Spain for GetBack. The portfolio consists of some 186k cases of personal unsecured claims. B...

Locked content UOKiK fines Bank Millennium

WSE-listed Bank Millennium has been slapped with a PLN 20.7 million fine by the antitrust watchdog UOKiK for “misleading its clients.” According to UOKiK the bank claimed that its abusive clauses put in the contracts and were on the public list of banned provisions were not a good enough reason to c...

Locked content BGŻ BNP Paribas launches Raiffeisen’s due diligence – media

According to Rzeczpospolita and Parkiet dailies, BGŻ BNP Paribas has launched due diligence of Raiffeisen Polbank, which means that the sale is getting close. “We’re after the management presentation when Raiffeisen’s board presented the lenders current status. Both BGŻ BNP Paribas and BNP Paribas r...

Locked content Novaturas mulls dual listing

Lithuanian tour operator Novaturas wants to be floated this year on the Warsaw Stock Exchange and on the Lithuanian Nasdaq, the company said in a market filing. “Novaturas is a leader on a very attractive tourist market in the Baltic countries, with a recognizable brand and a transparent and effecti...

Locked content UZP: Public tenders grew by 14% in 2017

The number of published public tenders in 2017 increased by 14 percent y/y to 280,576, according to data released by the Public Procurement Office UZP. In December alone, that figure increased by some 23,729 tenders, representing a 10 percent y/y increase….

Locked content Książek sells 25% stake in British Automotive Holding.

The majority shareholder of WSE-listed automotive distributor British Automotive Holding, shareholder Mariusz Książek sold 25 percent stake in the company in the accelerated book building process. Initially, Książek wanted to sell 20 percent of the stake. After the transaction, he will control  46.0...