News Parkiet

Privatization

Bartimpex files criminal charges

over PGNiG sale

Trading group Bartimpex, a holding company controlled by Polish businessman Aleksander Guzowaty, filed for criminal charges over alleged improprieties accompanying this year?s biggest IPO, last month?s privatization sale of PGNiG natural gas monopoly. Bartimpex claims PGNiG was worth more than its selling price of 2.98 zloty a share because the government underestimated the value of its 48 percent stake in EuRoPol Gaz, a transnational pipeline operator. The Treasury says it took a cautious approach in its valuation of EuRoPol Gaz, citing auditor?s opinions and accounting rules.

Pensions

Government vetoes pension hike for miners

Outgoing minority government has sent controversial law that extends early retirement benefits for miners indefinitely to the Constitutional Tribunal in a last-ditch attempt to block the legislation. Economists say the law would have cost taxpayers an estimated 7 to 8 billion zloty a year. However, new government of Kazimierz Marcinkiewicz may withdraw the motion. ?Belka?s motion is a mistake?, one of PiS regional leaders told PARKIET last week

Health care

Lux Med to raise equity

Medical clinic operator Lux Med said it has raised 5.5 million zloty in a private placement to pay for a new clinic in Warsaw. Privately held Lux Med is controlled by several emerging markets private equity funds.

Banking

Robberies ?not a big issue? for banks, ZBP says

Robberies and thefts are a relatively minor problems for most Polish banks, ZBP banking association said recently. Credit card fraud is a much bigger nuisance for local lenders, ZBP said. Banks lost 1.3 million zloty ($ 397 000) in 23 successful robberies in the six months to July. By comparison, credit card fraud costs totaled 3.7 million zloty.