An undisclosed buyer entered into an agreement to acquire 23.56% stake in Polnord S.A. from Towarzystwo Funduszy Inwestycyjnych PZU SA, Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna, Bank Gospodarstwa Krajowego, NEPTUN - fizan and Powszechny Zaklad Ubezpieczen na Zycie S.A.

Polnord SA is a Poland-based holding company primarily engaged in the real estate sector. The Company is involved in development, investment and construction activities, carrying out projects in major Polish cities, such as Warsaw, Tri-City (Gdansk, Gdynia, Sopot), Szczecin, Olsztyn, Lodz and Wroclaw. The Company reports two operating segments: Development activities, which include the sale of land and housing units, and Commercial projects, which include the lease of office area by special-purpose vehicles. The Company's offering includes finished apartments, suites, as well as commercial and office premises. One of the Company's flagship projects is Miasteczko Wilanow in Warsaw.