Abu Dhabi still interested in Polish shipyards

Polish newspapers report that Abu Dhabi Investment Authority (ADIA), the world?s biggest sovereign wealth fund with estimated assets at $875 billion, is still interested in Polish shipyards. The Polish State Treasury received an inquiry from ADIA in July 2008, but no offer was received.

Deputy Treasury Minister, Zdzislar Gawlik, said: “When the European Commission questioned the shipyards’ restructuring programs, sales of shares in any of the plants to an investor cannot be carried out. The only thing that can be done is to sell shipyard property in line with an alternative scenario proposed by the European Commission.”

The Polish government has until 3 November to notify EU competition commissioner, Neelie Kroes, whether it agrees to sell shipyard property or reimburse state subsidies.