Locked content New pension programs to boost GDP growth by 0.3-0.4% – PFR head

Poland hopes to put PLN 15-20 billion a year into capital markets as a result of its new employer-sponsored pension program, according to the CEO of state investment vehicle PFR Paweł Borys. “They will strengthen the financial base of the corporate sector and bring an increase in the long-term econo...

Locked content Polish Development Fund launches internet portal for start-ups

The Polish Development Fund (PFR) has launched an internet service for innovative SMEs in the public sector. Young entrepreneurs will be able to use the portal to find information on potential investors or sources of funding. As the PFR reported on Tuesday, the startup.pfr.pl website presents the PF...

Locked content PFR with PLN 290 mln net profit in H1

State-run development fund PFR had a PLN 290 million net profit in H1, according to the fund president Paweł Borys. At the same time, PFR’s assets grew to PLN 5 billion from PLN 1.2 billion a year ago, mostly due to the purchase of Pekao….

Locked content PZU and PFR finalize Pekao takeover

State-owned insurer and state investment vehicle PFR finalized the takeover of Pekao from UniCredit. Both entities acquired 32.8 percent stake in Poland’s second biggest bank for PLN 10.6 billion in a deal signed in December last year. “This is a historic moment. By completing the acquisition of Ban...

Locked content Tauron with PLN 880 mln in support from PFR for Jaworzno plant

WSE-listed, state-owned power group Tauron will receive PLN 880 million from state-run investment vehicle PFR to build the 910 MW coal-powered block in Jaworzno. In return, PFR will take a stake in the project, which according to Tauron will not exceed 50 percent. At the moment, the scheme is comple...

Locked content PFR to invest PLN 8 billion in the next 12 months

Polish state-run fund PFR plans to invest PLN 8 billion within the next 12 months, mainly on infrastructure and energy. “Within the last 12 months PFR’s investments, including Pekao stake, amounted to PLN 8 billion. It would be good to repeat this sum in the coming year,” PFR CEO Paweł Borys s...

Locked content PZU, PFR to finalize Pekao purchase on June 7

WSE-listed insurer PZU and state-owned development fund PFR will finalize the purchase of a 32.8 percent stake in WSE-listed bank Pekao from Italy’s UniCredit on June 7, PZU said in a market filing. Back in 2016, Polish insurer PZU and Polish Development Fund PFR agreed to buy 32.8 percent of ...

Locked content PZU, PFR with KNF approval for Pekao takeover

Financial market watchdog KNF has approved the purchase of Pekao by PZU and PFR, which clears the last obstacle to finalize the transaction. The buyers want to finalize the deal in early June, just in time to qualify for the banks’ dividend, set at PLN 8.58 per share. Back in 2016, Polish insurer PZ...

Locked content PFR launches PLN 700 mln start-ups fund

State-owned development vehicle PFR has launched a PLN 700 million fund for financing start-ups, PFR Starter FIZ. The fund will be supplemented with private contributions, PFR CEO Paweł Borys said. According to him, several hundred start-ups could receive financing in the coming years. The fund is o...

Locked content PFR will consider selling its Bank Pekao stake in 3-5 years

The Polish Development Fund (PFR) will consider selling its stake in Bank Pekao in three to five years, PRF CEO Paweł Borys told the Polish Press Agency (PAP) “Selling the entire 12.8 percent stake via the stock exchange and keeping a control stake at PZU, with the rest being in free-float, is a goo...