Stocznia Gdynia to receive PLN 500m of assets from the state

(Paweł Kubisiak)
25-09-2006, 17:09

 

Warsaw (Puls Biznesu) – Stocznia Gdynia may next year receive the stakes of companies whose minority shareholder is still the Polish state. Provided that the company can wait that long.

 

Stocznia Gdynia has started negotiations with its potential investors including Israeli shipowner Rami Ungar and Ukrainian Donbas. They are supposed to inject PLN 500m (EUR 125.9m) of cash in the company. They have one condition, however: the state should help them pay back the debts of the shipyard.

“The shipyard has about PLN 1 billion of debts. Half of them would be paid by investors and half by the state. The Ministry of the Treasure has started reviewing the minority stakes owned by the state. The shipyard will receive shares of some state-owned-enterprises”, Pawel Poncyljusz, the deputy Minister of Economy said.

“In 2007, the state will raise Stocznia Gdynia capital with PLN 515m”, Michal Krupinski, the deputy Minister of the Treasure added.

 

The stakes the shipyard will receive should be easy to sell. These could be listed companies or those which are going to be listed next year. The state owns PLN 15.7 billion of minority stakes including PLN 14.7 billion of shares of the companies believed to be strategic for the state, including PKN Orlen, Lotos, PKO BP or KGHM. Companies like Kety or Cersanit could be given to the shipyard.

 

However, Stocznia Gdynia is in a very difficult situation. Investors will support it financially when the European Commission concludes the control of restructuring programs implemented in the shipyard. The opinion of Brussels officials should be presented in November, however there is a threat that the analyses will delay till February. The shipyard is trying to get funds to survive until either the investors or the state give it the money. It is negotiating to sell its subsidiaries. It may receive credits from its potential investors.

(PLN 1 = EUR 0.252)

© ℗
Rozpowszechnianie niniejszego artykułu możliwe jest tylko i wyłącznie zgodnie z postanowieniami „Regulaminu korzystania z artykułów prasowych” i po wcześniejszym uiszczeniu należności, zgodnie z cennikiem.

Podpis: (Paweł Kubisiak)

Najważniejsze dzisiaj

Polecane

Inspiracje Pulsu Biznesu

Puls Biznesu

Puls Inwestora / Stocznia Gdynia to receive PLN 500m of assets from the state