Poland’s Treasury has further delayed the privatization of the Polish Real Estate Holding (PHN) until this fall, the daily Puls Biznesu reports, adding that ECI and Griffin Real Estate have both joined the bid for the company’s substantial real estate portfolio. Despite assurances last month that the data room for investors had already closed, PHN told the daily it’s still waiting for new offers.
According to Puls Biznesu, PHN is struggling with a number of legal issues over a substantial part of its portfolio. The newspaper also claims that despite previous assurance, Poland’s Treasury is thinking about selling about 66-percent of the portfolio outside the Warsaw Stock Exchange, out of 73 percent set to be privatized.
