Locked content AXA to buy BRE Ubezpieczenia – paper

French insurance giant AXA is close to acquiring BRE Ubezpieczenia, the insurance unit of lender mBank, according to sources quoted by Puls Biznesu. The acquisition also involves bancassurance cooperation with the seller. “AXA won the auction for BRE Ubezpieczenia. It is offering PLN 500 million for...

Locked content Procom System may be floated in 2016

Electrical contractor Elektrotim plans to list its subsidiary Procom System on the Warsaw Stock Exchange, but no earlier than 2016, the parent company’s CEO Andrzej Diakun told ISBnews. “The plan to float Procom System is still in the pipeline. We would however like the company to first increase its...

Locked content Redan seeks investors for Textilmarket

WSE-listed clothing sector firm Redan plans to sell a 25-percent stake in Adesso, responsible for the Textilmarket brand, to PE fund 21 Concordia 1, Puls Biznesu reports. The deal, worth PLN 35 million, should be concluded before the end of August. The Textilmarket brand is especially designed to be...

Locked content Arx Equity buys stake in Anwis

Polish PE firm Arx Equity Partners has backed a management buy-in at window coverings producer Anwis Polska, UnQuote reports. Financial terms of the deal were not disclosed. Jacek Gromniak, who was previously at the helm of sector firm Somfy Poland, will now become CEO of Anwis. The new owners plan ...

Locked content Libet managers get takeover approval

Poland’s Office of Competition and Consumer Protection has approved the takeover of concrete elements producer Libet by its managers, Thomas Lehmann, Ireneusz Gronostaj and Jerzy Gabrielczyk, the company said on Wednesday. The controlling stake in Libet was sold by private equity fund Innova Capital...

Locked content Zetkama plans acquisitions

Metal components maker Zetkama plans to finalize one of the acquisitions it is working on before the end of September, the company’s CEO Leszek Jurasz told the Polish Press Agency (PAP) in an interview. The company hopes to conclude the deal by the end of June, Jurasz said. It is still working on it...

Locked content Azoty to borrow funds for acquisitions

Poland’s fertilizer producer Grupa Azoty will try to acquire loans for acquisitions abroad. The company believes it can finance its takeover projects with PLN 2 billion in debt. The amount is equal to half of annual EBITDA for Grupa Azoty. Azoty are currently the second largest fertilizer prod...

Locked content Bank of Lithuania allows PZU acquisition

PZU has received the go-ahead for an acquisition of shares in the Lithuanian firm Lietuvos Draudimas AB. ISBnews reported that the Bank of Lithuania gave permission for the transaction, meanwhile PZU still awaits an antitrust decision on the matter. The Polish insurer has signed a deal with Royal &a...

Locked content CEE Equity Partners invests into PEP

CEE Equity Partners, a newly launched private equity fund with Chinese capital, will buy a stake in wind farm developer Polish Energy Partners (PEP), which will also acquire energy assets from Kulczyk Investments. PEP said in a statement on Saturday that it would acquire assets in Polenergia from it...

Locked content M&A activity continue to rise in Poland

Poland’s M&A market will see further recovery in the second half of the year, maintaining the upward trend seen in the first six months of 2014, according to a report by law firm Allen & Overy. “The Polish M&A market has been relatively lively in H1 2014 as compared to previous years....