Intraco for sale

2010-08-30

The Ministry of State Treasury intends to sell its shares in Intraco, a company whose business includes the lease of office space in Warsaw, as reported by PAP.
Intraco has 35 years' experience in the lease of office space. The company also owns an office building with the leasable area of over 20,000 m² in the centre of Warsaw. Furthermore, Intraco is the owner of the Osiedle Biznesu project located in Warsaw's Bielany district, which is a complex of five office buildings with the total leasable area of over 7,000 m².
As far as the company's plans are concerned, Intraco intends to build a modern office building with the area of around 10,000 m² in the centre of Warsaw and add office space of around 3,000 m² to the Osiedle Biznesu project. The company also plans to expand into the property development business as residential units are to be built in the stead of some of the buildings of Osiedle Biznesu.
The company is entirely held by the Ministry of State Treasury, which has plans of selling shares representing 85% of Intraco's share capital. The deadline for submitting bids to participate in the proceedings is 22 September 2010.

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