PKO could close the deal on Qualia by end 2014

Poland's largest lender PKO BP could finalize the sale of its subsidiary developer firm, Qualia Development, by the end of Q4 2014, said Paweł Borys, the company’s strategy and investment director. “The process is in progress. We shortlisted investors in September and we are carrying out negotiations,” Borys said. “It’s possible that the transaction will be closed by the end of this year,” he added. In May of this year, PKO announced its plans to sell Qualia Development, which is not a part of its core business strategy. Qualia has completed a number of investments, both residential and commercial, including the Golden Tulip condo hotel and Miasteczko Wilanów.