Donbas gets approval to acquire Stocznia Gdansk shipyard

opublikowano: 09-11-2007, 12:28

Warsaw (Puls Biznesu) – The Ukrainian investor has the approval of antimonopoly authorities to acquire shares of Stocznia Gdansk.

The Office of Competition and Consumers’ Protection (UOKiK) approved of the acquisition of Gdansk shipyard by ISD Polska, subsidiary of Ukrainian Donbas. ISD Polska pledged to inject PLN 400m (EUR 110m) of fresh capital into the shipyard. At first, PLN 100m will be conveyed. At the end of next year, the remaining amount will be invested. The Agency of Industrial Development (ARP) the present shareholder of the shipyard, worried about splitting the investment. ARP would like the whole amount to be invested now. It will agree for splitting the investment provided that ISD has guarantees from Donbas headquarters.

ISD representatives say that if necessary, they will provide such guarantees. They also explain that gradual investment suits the investment program and it makes no sense to freeze capital. They are preparing a new project already. PLN 200m will be spent to produce steel elements.

(PLN 1 = EUR 0.275)

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