PHN with UOKiK approval regarding takeover

WSE-listed developer Polski Holding Nieruchomości PHN received a green light from the antitrust watchdog UOKiK regarding the takeover of a general contracting firm. The name of the company was not disclosed, but PHN filed a motion to acquire Korporacja Budowlana Doraco back in December. “The company which shares are to be the subject of the transaction carries out activities including construction and assembly services on the basis of general contracting. Purchase of shares in the above-mentioned company is to take place after obtaining corporate approvals and completion of ongoing negotiations regarding the reconciliation of all transaction conditions,” UOKiK said. The acquisition is in line with PHN strategy, which assumes, among other things, that through acquisition, key competencies may be acquired that the company has so far implemented through external entities.