Daewoo purchased 300,000 shares of Polish insurance firm TUK at their par value of zl. 100 a share yesterday, giving the Korean concern 35.5% of TUK’s shares. (Gazeta Wyborcza, page 26) …
In preparation for naming on Friday the Telekomunikacja Polska SA (TPSA) privatization adviser, the Treasury Ministry has shortlisted four consortia from the original nine bidders, according to unofficial sources quoted in Rzeczpospolita.
Bank Pekao SA will seek a $100 million subordinated loan on international markets in an effort to increase its own funds by at least $150 million.
The new International Monetary Fund (IMF) representative for Poland, Frank Rozwadowski, warned against current deficit growth over 5%, which would risk a financial crisis. He also advocates curbing internal demand.
Yesterday Finance Minister Leszek Balcerowicz congratulated the presidents of the 25 Polish companies included on the list of the 100 largest companies in Central and Eastern Europe according to revenue, as compiled by international accounting firm Deloitte & Touche.
Polski Bank Rozwoju (PBR) plans to achieve pre-tax profit of zl. 50 million this year, marking an increase of 20% over 1997.
Gdynia Shipyard, 46.7% owned by the State Treasury, 20.5% by Pomorski Bank Kredytowy and 18.6% by Bank Handlowy, has reported 1997 profit after six years of losses, and expects to further improve its results this year, said shipyard spokesman Miroslaw Piotrowski on Friday.
Bosch Siemens Hausgerate GmbH (BSH) opened a new plant in Lodz yesterday at a cost of DEM 26 million.
By the end of January, the government economic council (KERM) will draft a new plan for privatization of Poland’s largest insurance company, Powszechny Zaklad Ubezpieczen S.A. (PZU), said government spokesman Tomasz Tywonek.
Polski Bank Rozwoju (PBR) wants Germany’s Bayerische Landesbank to buy 51% of its shares.