Poland’s housing developer Polnord revealed plans to take over Polnord Fadesa. Polnord’s CEO, Piotr Wesołowski, said that his company is in talks to acquire a 51-percent stake in Polnord Fadesa from its partner Martinsa-Fadesa, which recently filed for insolvency. The move will give Polnord 100-percent control over the company. “We’re planning to take over the entire infrastructure of Fadesa, including its workers, in effort to create another, upper-end brand of Polnord, which will provide higher margins,” Wesołowski said.
