Ministry of Treasury Ownership transformation of state enterprises as of 31 December 2012 - Statistics -

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Statistics

Ownership transformation of state enterprises as of 31 December 2012

  • 8453 - number of state-owned enterprises as of 31 December 1990.1.)
  • 5995 - number of state-owned enterprises subject to ownership transformation from 1 August 1990 until the end of December 2012.
  • 70 - number of state-owned enterprises as of 31 December 2012, including 23 entities conducting business activity.

I. Ownership transformation implemented between 1 August 1990 and 31 December 20122.)

  • commercialisation of 1753 state-owned enterprises (29.2% of all enterprises under transformation) resulting in formation of:
    • 1736 sole shareholder companies of the Treasury,
    • 17 companies with creditors' participation pursuant to Chapter III of the Act on Commercialisation and Privatisation (commercialisation with conversion of debt);
  • approval of 2308 direct privatisation requests (38.5% of all enterprises under transformation);
  • approval of 1934 requests for liquidation due to poor financial condition pursuant to Article 19 of the Act on State Enterprises (32.3% of all enterprises under transformation);

    In addition:
  • shares in 1276 sole shareholder companies of the Treasury created through privatisation were made available through:
    • contribution of shares to the National Investment Fund - 512 companies,
    • indirect privatisation - 527 companies,
    • exchange of debt for shares through bank settlement procedure (BPU) - 128 companies,
    • gratuitous transfer of shares to local government units - 67 companies,
    • subscription of shares in the increased capital of sole shareholder companies of the Treasury by entities other than the Treasury and state legal persons - 14 companies,
    • other methods - 28 companies;
  • 2222 state-owned enterprises privatised by direct method were struck off the Register of Entrepreneurs;
  • 1159 state-owned enterprises were struck off the Register of Entrepreneurs following liquidation.

 

II. Ownership transformation implemented between January and December 2012:

  • successful completion of 113 privatisation projects in 111 companies with Treasury shareholding, including:
    • conclusion of 91 privatisation agreements for 89 companies;
    • completion of 8 stock exchange projects;
    • gratuitous transfer of Treasury shares held in 9 companies3.) to local government units;
    • contribution of Treasury shares to increase share capital in other companies with Treasury shareholding (3 entities);
    • completion of redemption of the Treasury shares in 2 companies.

Overall, ownership transformation covered:

  • 434.) sole shareholder companies of the Treasury, including 33 sole shareholder companies of the Treasury established through commercialisation;
  • privatisation continued in 685.) companies with Treasury shareholding through the sale of further stakes of shares;
    • 1 film institution was commercialized;
    • 1 request for direct privatisation was approved,
    • 2 requests for liquidation of state-owned enterprise due to economic reasons were approved by the Minister of Treasury;
    • 5 state-owned enterprises were struck off the Register of Entrepreneurs following liquidation and 1 enterprise was struck off the Register following direct privatisation;
    • among the companies under the supervision of the Minister of Treasury, 35 companies were struck off the National Court Register (15 companies following liquidation and 20 companies following bankruptcy proceedings).

III. Entities under the supervision of the Minister of Treasury

As of 31 December 20126.), the Minister of Treasury exercises rights to shares in 288 companies conducting business activity (excluding 171 companies with employee shares only).
 

Among the 288 "active" (operating) companies, the Treasury held:

  • 100% stakes in 129 companies;
  • majority stakes in 33 companies;
  • minority stakes in 126 companies.

In addition, legal proceedings aiming to terminate business activity were conducted in 254 companies:

  • the process of liquidation was conducted in 106 companies,
  • the process of bankruptcy was conducted in 89 companies,
  • 59 companies did not conduct business activity.

* * *

1.) Statistical Bulletin no. 11, Central Statistics Office (GUS), Warsaw 1991, p. 57
2.) Applies to ownership transformation of state-owned enterprises conducted by the Minister of Ownership Transformation /Minister of Treasury,
3.) For 1 company, a share purchase agreement was concluded followed by gratuitous transfer of shares to local government unit,
4.) Concerns: sale, contribution for increase of capital in another entity with Treasury shareholding, communalisation, redemption of the Treasury shares,
5.) Ibid,
6.) Preliminary data, prior to the completion of annual inventory of shares.

 

Medatdane

Published by: Agnieszka Steindl
Author: Department of Analyses
Last change: 18.02.2013 , 14.09.2016 Piotr Krupa
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