Ownership transformation of state enterprises as of December 31, 2010
8453 – number of state owned enterprises as at 31 December 19901
5975 – number of state owned enterprises privatized between 1 August 1990 and 31 December 2010
121 – number of state-owned enterprises as at 31 December 20102
I. Privatisation between 1 August 1990 and 31 December 20103
- commercialisation – 1743 state owned enterprises (29.2% of all privatised enterprises) resulting in formation of:
− 1726 Sole Shareholder Companies of the Treasury, and
− 17 companies with creditors’ participation pursuant to Chapter III the Commercialisation and Privatisation Act (commercialisation with conversion of debt);
- approval of 2304 direct privatisation requests (38.5% of all privatised enterprises);
- approval of 1928 requests for liquidation due to poor financial condition pursuant to Article 19 of the Act on State Enterprises (i.e. 32.3% of all entities covered by privatisation programme);
- Shares in 1178 Sole Shareholder Companies of the Treasury created through privatisation were made available through:
- contribution of shares to the National Investment Funds – 512 companies,
- indirect privatisation – 455 companies,
- exchange of debt for shares through bank settlement procedure (BPU) – 127 companies,
- gratuitous transfer of shares to local government units – 47 companies,
- acquisition of shares in the increased capital of a Single Shareholder Company of the Treasury by entities other than the Treasury – 9 companies,
- other methods – 28 companies.
- 2220 state owned enterprises privatised through direct method were removed from the Register of Entrepreneurs;
- 1142 state owned enterprises were removed from the Register of Entrepreneurs following liquidation.
II. Privatisation activities between January and December 2010
- Successful completion of 2304 privatisation projects in 226 companies with Treasury shareholding, including:
- conclusion of 160 privatisation agreements;
- gratuitous transfer to local government units of shares held by the Treasury in 38 companies;
- contribution of Treasury shareholdings to increase share capital in other companies with Treasury shareholdings (32 entities).
Overall, privatisation covered:
- 1195 Sole Shareholder Companies of the Treasury, including 97 Sole Shareholder Companies of the Treasury created through commercialisation;
- privatisation continued in 1076 companies with Treasury shareholdings consisting of the sale of further stakes of shares. Privatisation was successfully completed in 57 companies in which the Treasury held minority stakes (up to 10%);
In 124 cases the Treasury disposed of entire stakes.
- commercialisation was completed in 10 state owned enterprises and 2 cinematic institutions;
- 5 enterprises privatised by direct method were struck off The Register of Entrepreneurs;
- the Minister of Treasury approved 5 requests for liquidation due to economic reasons;
- 17 privatised enterprises were struck off the Register of Entrepreneurs after liquidation; 15 state-owned enterprises were struck off the Register following bankruptcy proceedings;
- among the companies under the oversight of the Minister of Treasury, 48 companies were struck off the National Court Register (23 companies following liquidation and 25 companies following bankruptcy proceedings).
III. Entities under the oversight of the Minister of Treasury
As at 31 December 2010, the Minister of Treasury exercised voting rights attached to shares in 523 companies conducting business operations (excluding 103 companies with only employee shares).
Among the 523 "active" (operating) companies, the Treasury held:
- 100% stakes in 268 companies;
- majority stakes in 42 companies;
- minority stakes in 213 companies.
1. Statistical Bulletin no. 11, Central Statistics Office (GUS), Warsaw 1991, p. 57
2. Preliminary data, prior to confirmation by state owned enterprise founding bodies
3. Applies to privatisation of state owned enterprises conducted by the Minister of Ownership Transformations /Minister of Treasury
4. In 4 companies the remaining minority stakes were disposed of after contribution
5. Concerns: sale, contribution for increase of capital in another Single Shareholder Company of the Treasury, communalization
6. Concerns: sale, contribution for increase of capital in another Single Shareholder Company of the Treasury, communalization