PHN looking to acquire major construction company

State majority-owned, Warsaw Stock Exchange-listed investor Polski Holding Nieruchomości (PHN) is now negotiating the acquisition of a 100-percent stake in construction company Korporacja Budowlana Doraco. The transaction, which yet needs to be approved by Poland’s antitrust watchdog UOKiK, could be finalized before the end of this year. The deal is in line with PHN’s strategy for the years 2017-2023, which calls for acquisitions that will allow the company to gain new competences, previously sourced from external entities. Korporacja Budowlana Doraco is currently acting as the general contractor of such projects as Centrum Marszałkowska (BBI Development) and CEDET (Immobel Poland) in downtown Warsaw.