Locked content Labor dispute in BNP Paribas

Two trade unions of BNP Paribas lender addressed several demands to the management and announced a labor dispute due to the redundancy plan related to the merger with BGŻ, a press release read. The unions demand additional gratuity for the employees who will be dismissed and a restructurization bonu...

Locked content Erste Group not interested in Polish lenders as for now

The third largest lender in Europe, Austrian Erste Group is delaying its acquisition intentions in Polish banking, Parkiet.com informed. “Polish lenders are too expensive now. Some of them cost even double their book value,” Andreas Treichl, the firm’s CEO said. “We have no p...

Locked content Nearly 2,000 jobs to be cut after BGŻ and BNP Paribas merger

Up to 23 percent of staff, that is 1,900 employees, may be dismissed due to the acquisition of Poland’s BGŻ by France’s BNP Paribas, Rzeczpospolita daily informed. The lenders are planning on closing 118 offices, which is 19 percent of all units. Lenders neither confirm nor deny the news...

Locked content Innova to buy more companies this year

Innova Capital, one of the largest equity funds in Poland is planning to acquire more companies spending around €50-80 million this year, according to its managing partner Andrzej Bartos. “I am expecting us to invest €50-80 million in 2 or 3 entities,” Bartos said in an interview for Pul...

Locked content OT Logistics wants to buy Lotos Kolej

The-WSE listed OT Logistics approached the Ministry of the Treasury to purchase railway company Lotos Kolej, which is a subsidiary of the state-controlled Grupa Lotos. “We have signaled several times that we are interested in an acquisition on the Polish cargo railway market, and the offer con...

Locked content ZUE closer to aquire Railway

Poland’s construction company ZUE  signed a letter of intent to acquire 70 percent of Railway’s shares on Monday, the firm informed. “Singing the letter of intent regarding acquisition of majority stake of Railway is an important step for our strategy to expand our business into ma...

Locked content Geberit receives green light for Sanitec acquisition

The Swiss sanitary system and parts company Geberit is on its way to take over Scandinavian Sanitec. UOKiK, The Office of Competition and Consumer Protection has given permission for the acquisition, claiming that it would not hurt competition in Poland. The two companies’ market share in Pola...

Locked content Govt to consolidate energy sector

The Ministry of the Treasury will present a report on consolidation of Polish energy industry through the end of January, Polish Press Agency reported. The government is willing to strengthen the regional position of the sector, “We seek to increase the importance of Poland’s energy industry on the ...

Locked content Cube.ITG will acquire ITMED

WSE-listed Cube.ITG, will expand its capabilities in the health care sector. Cube.ITG’s vice-president said that the acquisition opens up doors for knowledge transfer, not only in the medical sector. Cloud computing and big data will be an important element of this technology transfer between ...