Poland yards buyer provides guarantees

The mysterious buyer of Poland’s Gdansk and Szczecin shipyards has provided bank guarantees for the deal. Polish treasury minister Aleksander Grad said United International Trust (UIT) has given proof it can pay the $115m auction fee from two Qatari banks, Qatar Islamic Bank and Qinvest.

He also said the company will operate the yards under the name Polskie Stocznie.

Grad has said that a specific fund representing Middle East interests is behind UIT and that trips made by him to Qatar and Kuwait proved crucial in sealing the deal, which was forced by the need to repay illegal state aid granted to the yards by Poland.