Treasury preparing legislation to protect strategic firms

Poland’s Treasury Ministry is working on legislation that could protect strategic, state-controlled companies from hostile takeovers, Treasury Minister Włodzimierz Karpiński told the Polish Press Agency in an interview. The minister would like the new regulation to come into force in the first half of 2015. Under the planned legislation, if a share purchase transaction is considered hazardous for Poland’s security, the treasury will be able to block it. In August 2015, the State Treasury announced a list of 22 companies of strategic importance, “not for sale.” The list includes PKN Orlen, Grupa Lotos, Grupa Azoty, PKO BP and PZU.