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First state-owned health resort received to old owners

APA - Austria Presse Agentur
opublikowano: 23-09-2005, 15:01

Warsaw (Puls Biznesu) – Jacek Socha, the Minister of Treasure, signed an agreement to sell Szczawnica health resort. A majority stake will be owned by Thermaleo, a company controlled by heirs of Adam Stadnicki, who owned the resort before II World War. In 2003, the highest court decided that the nationalisation of the resort conducted in 1948, was illegal.

Warsaw (Puls Biznesu) – Jacek Socha, the Minister of Treasure, signed an agreement to sell Szczawnica health resort. A majority stake will be owned by Thermaleo, a company controlled by heirs of Adam Stadnicki, who owned the resort before II World War. In 2003, the highest court decided that the nationalisation of the resort conducted in 1948, was illegal.

The investor withdrew compensation claims against the treasure and promised to continue healthcare business. Within 10 years, Thermaleo is going to inject USD 25m (EUR 20.6m) in the resort. “According to the agreement, we will increase the capital by PLN 10m (EUR 2.6m) within four years. PLN 8m will be spent to raise the standard of the health resort while PLN 2m for cultural centre in Szczawnica. This is just the beginning. We want to transform Szczawnica into a world health resort”, Krzysztof Mankowski, one of Adam Stadnicki heirs, and Thermaleo CEO said.

Today, the resort has too few beds. “We have bought two buildings already and are negotiating acquisition of others”, the CEO said. “The company has PLN 2m of debts. We have been facing bankruptcy for several months but the heirs helped us with credits. I hope we will finally thrive”, Antoni Slawik, Szczawnica health resort CEO said. Old owners of health resorts in Zegiestow, Rabka and Rymanow have submitted their claims in the Ministry of Treasure. “There will be no more privatisation processes in this sector. This is a job for the next minister”, Jacek Socha said.

(PLN 1 = EUR 0.256)

(USD 1 = EUR 0.825)

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Podpis: APA - Austria Presse Agentur