News Parkiet

Power industry

Elektrim may win back PAK power plant,

key shareholder says

Elektrim power and telecoms group may win back control over a big chunk of ZE PAK power plant, its main shareholder, Polish businessman Zygmunt Solorz-Żak told PARKIET recently. However, that won?t happen until it ends the dispute over its stake in PTC mobile phone company, Solorz-Żak said.

Petrochemicals

Lotos buys ExxonMobil?s retail operations

in Poland

Poland?s no. 2 oil refinery, Gdańsk-based Grupa Lotos said it has agreed to pay as much as 278.5 million zloty, or 69.1 million euros for the 39 gas stations of ExxonMobil Poland. It said the deal would boost its retail market share from 6 to around 7.5 percent. Chief executive Paweł Olechnowicz says he doesn?t exclude other acquisitions to expand Lotos retail chain, but refused to say if his company is interested in Slovnaft chain in the south of the country.

Information technology

Lenovo to boost Polish market share

China?s Lenovo says it plans to boost its market share in Poland to make it the country?s no. 1 personal computer distributor in five years? time. IBM, which folded its PC manufacturing business into Lenovo sold just over 21 000 PC?s in Poland last year, well behind the domestic leader, NTT System, which sold 95 000 units in 2004.

Real estate

Real estate funds on a buying spree

Real estate funds from Western Europe and elsewhere invested as much as 1.2 billion euros in Polish real estate projects in the seven-month period from January to the end of July, snapping up shopping malls and office centers, Jones Lang LaSalle says in a recent report. By contrast, two of the three Polish REITs made no investments in commercial real estate this year. The third, BZ WBK?s Arka Nieruchomości invested PLN 45 million in several smaller projects.