Poland’s Treasury is planning to sell of a majority of its property company, Polish Real Estate Holding PHN. According to Polish media reports, the buyer should be a real estate specialist, focused on the local markets. The Ministry expects to go public with the company on the Warsaw’s stock exchange, once the situation on the bourse improves. “We can’t allow the company to be sold for an irrationally low price,” says Mikołaj Budzanowski from Poland’s Ministry of Treasury.
The Polish state currently controls 100 percent of the shares in the company, but is willing to offload its entire stake for a fair price. PHN’s portfolio currently contains 1,180 real estate assets, located mostly in the Warsaw area, including plots sites with a total area of over 11,300 ha.
