In Brief: Ventus buys into PZU; Dutch to invest in Radom; Pekao S.A.

Ventus, an investment fund, announced in a statement yesterday that it had acquired 201,000 shares of insurer PZU. The average price per share was zl. 86.64. The stake currently held by the fund represents 0.23% of PZU's total capital. (Prawo i Gospodarka, p. 18) ... A consortium of Dutch companies has announced plans to construct a medical apparatus production plant in Radom Special Economic Zone worth zl. 100 million. The construction is to begin in 2003 and will employ around 400 people from the region. (Puls Biznesu, p. 12) ... Investment bank Merrill Lynch has cut its rating for Poland's largest private lender, Pekao S.A. to "neutral" from "buy" after the lender hit its price target of zl. 100 per share. Merrill Lynch also lowered Pekao's 2003 net profit forecast by 12% to zl. 1.14 billion after the outlook for economic growth worsened. (Reuters) ... Economy Minister Jacek Piechota, who is currently visiting Prague, declared the readiness of the government to grant $30 million in loans to Polish companies willing to help repair the destruction in the Czech Republic caused by the floods in August. The proposition is also aimed at companies specializing in the renovation of monuments. (Prawo i Gospodarka, p. 3) A.K.