Ministry of Treasury Ownership transformation of state enterprises as of 31 December 2014 - Statistics -

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Ownership transformation of state enterprises as of 31 December 2014

  • 8453 - number of state-owned companies existing on 31 December 1990.[1]
  • 6002 - number of state-owned companies covered by ownership transformation, in the period from 1 August 1990 to the end of December 2014.
  • 54 - number of state-owned companies existing on 31 December 2014, including 20 that are conducting business.

I. Ownership changes made in the period from 1 August 1990 to 31 December 2014[2]:

  • commercialized 1755 state-owned companies (29.2% of all companies under transformation), resulting in creation of:
    • 1738 one-person companies of the Treasury,
    • 17 companies with participation of creditors pursuant to Section 3 of the Law on Privatisation (commercialization with conversion of liabilities);
  • accepted 2308 applications for direct privatization (38.5% of the total number of companies under transformation);
  • no objection to the 1939 applications for liquidation because of poor financial situation in accordance with Article 19 of the Act on State Companies (32.3% of the total number of companies under transformation).

Additionally:

  • shares / stocks were made available in 1300 one-person state-owned companies created as a result of commercialization, including:
    • 512 - through the contribution of shares / stocks to NFI (National Investment Fund),
    • 543 - by indirect privatization,
    • 127 - by converting debt into shares / stocks in the framework of IPB (Insolvency Proceedings Bulletin) ,
    • 73 - through the free transfer of shares to local government units,
    • 17 - through the acquisition of shares in the increased initial capital of sole shareholder by entities other than the State Treasury and state legal persons,
    • 28 - in a different mode;
  • 2222 state-owned companies privatized immediately were removed from the register of entrepreneurs;
  • 1168 state-owned companies were removed from the register of entrepeneurs after the completion of liquidation.

II. Ownership transformations made in the period January - December 2014:

  • completion of the 68 privatization projects for 67 companies[3] with the participation of the Treasury, including:
  • concluded 52 privatization agreements,
  • realized 3 stock exchange projects (including the sale of shares of PGE Polska Grupa Energetyczna S.A.)[4]
  • redeemed shares in 2 companies,
  • made a free transfer of Treasury shares to the local government units in 2 companies (including making available of shares of SP for the first time and another transfer in a company owned by the State Treasury)
  • in 9 cases the Treasury shares were brought to increase the share capital of other entities with the Treasury participation (including the contribution of shares of PGE Polska Grupa Energetyczna S.A. to PIR S.A)[5]

therefore, the ownership transformation was made:

  • in 9 one-person companies of the Treasury, created as a result of commercialization;
  • in 58 companies partly owned by the State Treasury the privatization was continued through the subsequent sale of shares;
  • commercialized 1 state-owned company;
  • the Minister of the Treasury has not objected to 1 application for the liquidation of state-owned company for economic reasons;
  • 5 state-owned companies were deleted from the register of entrepreneurs after the completion of the liquidation and 2 companies were crossed out after the completion of bankruptcy;
  • among the companies held in the supervision of the Minister of the Treasury 11 companies were crossed out of NCR (National Court Register) after the completion of the liquidation and 9 companies after the completion of the bankruptcy proceedings.

III. Entities in the supervision of the Minister of the Treasury

As of December 31, 2014 the Minister of the Treasury exercised the authority of shares / stocks in 233 companies that were conducting business (with the exception of only 100 companies with shares / employee shares).

Among 233 of "active" companies - ​​operating companies:

  • in 98 companies the share capital of the Treasury amounted to 100%,
  • in 33 companies the Treasury held a majority ownership,
  • in 102 companies the State Treasury held a minority ownership.

Additionally, in 229 companies legal proceedings were carried out  that aimed at termination of their activity:

  • in 99 companies the process of liquidation was being performed,
  • in 74 companies the bankruptcy process was being conducted,
  • 56 companies are not operating.                                                                                

***

[1] Statistical Bulletin No. 11, GUS (Central Statistical Office), Warsaw 1991., p. 57.
[2] Regarding. Ownership transformation of state companies made by the Minister PW / Minister of State Treasury.
[3] For the PGE Polska Grupa Energetyczna S.A. 2 transactions were realized in 2014: the sale on the Warsaw Stock Exchange and the contribution to the increase of the share of PIR S.A
[4] ibid.
[5] ibid.

Medatdane

Published by: Piotr Krupa
Author:
Last change: 13.09.2016 , 14.09.2016 Piotr Krupa
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