Poland/Enterprises/Insurance/Privatisation
Warsaw (Puls Biznesu) – The Treasury Minister Jacek Socha disclosed the conditions of conciliation between the government, the owner of a 55 percent stake in PZU insurer and the Dutch owner Eureko. The latter will decide about new shareholders. ‘If EBRD, which is to buy 5 percent of PZU wants to sell over 2 percent, Eureko will have to agree to that. If the Treasury Ministry wants to sell over 2 percent, the Dutch will have the pre-emption right’, Jacek Socha explained.
When the conciliation agreement with Eureko is signed next week, PZU will have an open way to be listed. A 20 percent stake may be sold in an IPO. Eureko, owning 21 percent of shares, may increase its stake to 40 percent. Jacek Socha assured that the prospectus will be submitted to the security and exchange commission KPWiG in March. ‘Privatisation analyses are ready or advanced’, Cezary Stypulkowski, PZU CEO said.