News Parkiet

Alcoholic beverages

Three companies attempting to buy Polmos Białystok

The Treasury Ministry has to decide by midnight today whether to grant an American-based Central European Distribution Corporation the exclusive right to negotiate the takeover of 61 percent stake in the state-owned distillery Polmos Białystok. Two other suitors in the bidding process are Sobieski Dystrybucja, who raised its previous offer yesterday, and Polmos Lublin. Analysts say Polmos Białystok should be privatised quickly as the parliamentary and presidential elections are looming and the company needs a strategic partner.

Insurance

PZU to pay half of last year's profit

to shareholders

Shareholders of Powszechny Zakład Ubezpieczeniowy, Poland's no. 1 insurance group, have agreed to a proposal to pay half of last year's record earnings as dividends, the company said after yesterday's meeting. Government-controlled company, whose shareholders include pan-European insurer Eureko BV, said it would pay out a total of 708 million zloty, or 210 million dollars. Dividend per share will be raised to 8.2 zloty a share, almost three times the amount paid last year.

Venture capital

Venture cap funds raised 303 million euros

Venture capital and private equity funds registered in Poland have raised an estimated 303 million euros from international investors last year, industry association said at a press conference yesterday. New investments totaled 122 million euros, Polish Private Equity Association said. Media and telecommunications accounted for just over a third of the money spent last year, trailed by financial services (17%) and manufacturing (13%), PAEI said.

Venture capital and private equity funds recovered some 89 million euros by exiting their previous investments, mainly by selling their holdings to trade buyers or by going public with their investments.