Treasury Ministry sells Swoszowice sanatorium for PLN 18m
2010-02-10
The Treasury Ministry has agreed to sell 92% of shares in Uzdrowisko Krakow Swoszowice, a sanatorium, to STP Investment, an investment firm based in Bochnia (Malopolskie voivodship), for approximately PLN 18m (€4.4m).
The sanatorium specialises in the treatment of neurological, rheumatological and post-traumatic disorders. STP Investment has undertaken to increase its capital by means of a cash contribution of PLN 2m (€0.49m) by the end of 2012.
The deal is the second privatisation of a state-owned sanatorium facility so far this year, after the sale of Uzdrowisko Ustkain northern Poland – which specialises in orthopaedic, respiratory, rheumatic, cardiology and hypertension treatment – for over PLN 14m (€3.4m). The buyer was Hotel Lubicz, a hotel and spa operator.
The privatisation of a third sanatorium – in Polanica (Dolnoslaskie voivodship) - is underway, and seven other facilities are to go on the block in the near future.
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