Warsaw (Puls Biznesu) – Eureko, the Dutch investor in PZU, Poland’s largest insurer, increased its stake from 21 percent to 31 percent. Eureko bought the stake from BIG BG Investycje, a subsidiary of Bank Millennium for PLN 1.6 billion (EUR 392 million), i.e. PLN 185.29 a share. The company announced that ‘because of intentions of listing PZU on GPW in 2005, the sale price may be raised depending on PZU share price after the IPO’.
Eureko has up to now paid for the Polish firm PLN 3.6 billion. In November 1999, the consortium of Eureko and Millennium paid PLN 116.5 for one share.
(PLN 1 = EUR 0.245)
Poland/Enterprises/Insurance