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Eureko-PZU edge closer to settlement

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  • Eureko-PZU edge closer to settlement

POLAND/NETHERLANDS - The deadline set for a settlement in the Eureko-PZU conflict will be up in a month, but negotiating parties say they are optimistic about finally reaching an agreement over Eureko's disputed shareholding in the Polish firm.

"The Polish treasury minister, Aleksander Grad, and Eureko representative, Bert Hemskeerk, former president of Rabobank, jointly confirm that the conciliatory talks concerning the resolution of the conflict over PZU have reached an advanced stage and are leading to a settlement," the Polish treasury revealed today in an official statement.

The earlier deadline set for the end of July was missed by the parties involved as more time was still needed at that stage to resolve outstanding issues. 

The Dutch insurer Eureko has been in dispute with the Polish government for over a decade now, over the privatisation of the insurance company PZU. (See earlier IPE story: Eureko and Poland to enter 'secret' talks 

Arbitration proceedings before the courts were suspended in May, in expectation of a friendly solution, and will only be resumed should no settlement be reached by the end of September.

No further information on the current  talks is given by either party under a confidentiality agreement.

But both parties have confirmed that PZU's decision to withhold dividends from last year "will not hinder a successful conclusion of negotiations by end of September".

If you have any comments you would like to add to this or any other story, contact Julie Henderson on + 44 (0)20 7261 4602 or email julie.henderson@ipe.com 

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