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Privatisation revenues exceed PLN 22bn in 2010


Revenues from privatisation reached PLN 22.04bn (approx. €5.5bn) in 2010, according to data from the Ministry of the Treasury. This represents 88.63% of the yearly target, which was PLN 25bn (€6.3bn). If we add privatisation agreements finalised during 2010 but for which revenues are yet to be received – e.g. pending antitrust clearance – the figure totalled PLN 29.95bn (€7.5bn), almost 120% of the plan and the highest value on record.

A total of 227 privatisations were completed in 2010, including 27 via the Warsaw Stock Exchange (WSE). They included several historic transactions, such as the initial public offering (IPO) of PZU, the number one insurer in Poland and in the region, which was the second biggest debut in Europe last year; the IPO of Tauron, Poland’s second biggest energy group; or the flotation of the WSE itself. These three privatisations raised a total of PLN 6.7bn (€1.7bn) for the Treasury, and attracted record numbers of retail investors. Other major revenue sources were sales of minority stakes in copper producer KGHM, petroleum maker Grupa Lotos, power groups PGE, Enea, and residual stakes in some other companies such as telecom operator TP. The Treasury also sold several dozen small and medium companies.

The 2011 budget envisages privatisation revenues of PLN 15bn (€3.7bn).

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