Sejm passes bill protecting strategic firms from hostile takeover

The lower house of the Polish parliament passed a bill on investment controls that is supposed to protect strategic Polish companies from hostile takeovers.

As many as 419 MPS voted for, one was against and 17 abstained. The list of companies is not ready yet, but it will include firms from such fields as: power or natural gas transmission system operators, petrol or diesel oil production, pipelines, storage of crude oil and fuels, production of chemicals, arms or military equipment. According to the newly passed act, investors will be obliged to inform the Ministry of the State Treasury that they are interested in buying a share in a strategic company.  The ministry will have 90 days to make a decision whether to allow or block it.