PZU to involve in Nowa Kompania Węglowa - Bloomberg

Poland's largest insurer PZU may purchase a minority stake in Nowa Kompania Węglowa, according to Bloomberg which cited its anonymous sources. The insurer is to take part in the increasing of the capital of the mining company to PLN 2 billion. PZU's spokesman has not commented on the news. Nowa Kompania Węglowa is to be set up on the basis of the ailing Kompania Węglowa. The restructuring process is set to be finalized at the end of September 2015. According to the business plan, the company's EBITDA will stand at PLN 2.19 billion in 2017.