Warsaw (Puls Biznesu) – The Parliamentary commission for the privatization of PZU has concluded its job. “The PZU privatization agreement is not valid”, this is the conclusion of the MPs report published after eight months of investigation. The commission demands the Minister of Treasury to take measures to cancel the agreement with Eureko which has over 30 percent in PZU, Poland’s largest insurance company. This may make the clash between the Dutch group and the Polish government even harder.
“We stress another time that we are a long-term investor and we are not going to withdraw from PZU. All agreements with the Ministry of Treasure respect the law. Eureko is still waiting for the government to realize the promises: listing PZU and selling part of the stake”, Lorrie Morgan, Eureko spokesperson said. The clash has been viewed by arbitrary court, which has decided that Eureko is right. The Polish government will have to pay a fine but how high is yet to be determined. “Parliament is not the government but the arbitrary court may see the atmosphere around the Dutch investor in our country. I’m afraid, the report may make it more difficult for the government to reach settlement with Eureko, which is the only chance for us after we lost the first part of the arbitrary proceedings”, an anonymous lawyer explained.Poland/Enterprises/Insurance