Govt. settles PZU row

9th October 2009

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The Polish government has settled its decade-long dispute with the Eureko insurance group over control of Poland's largest insurer – PZU.

According to the agreement, the treasury will pay PLN 4.77 bln in compensation to the Dutch company to drop its claims against the Polish state. The deal brings to an end a lawsuit in which experts say Eureko was seeking as much as PLN 35 bln in damages.

The settlement was announced Friday by Treasury Minister Aleksander Grad, who said the government had fulfilled its strategic goals. "These included the treasury gaining control of PZU, the controlled exit of Eureko from the investment, ending arbitration and the dispute, avoiding having to pay com ...

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