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Ringwood will take over Polski Holding Nieruchomości

Office of Competition and Consumer Protection gave a permissions on taking over of Polski Holding Nieruchomości by Ringwood Financial.

Ringwood Financial, which has its head-quarter in Nicosia in Cyprus, submitted an illation to Office of Competition and Consumer Protection for a permission on taking over of Polski Holding Nieruchomości on 20th November 2012. Office of Competition and Consumer Protection, after carried out antitrust action, made a decision that concentration won't lead to a crucial limit of the competition.

Ringwood Financial is a holding coopartnership which consists of entrepreneur running activities within i.a. lease and office property management, storage and commercial services in the capital's area.

Capital Group Polski Holding Nieruchomości consists of Warsaw Holding Nieruchomości, INTRACO, BUDEXPO, Dalmor and Wrocławskie Centrum Prasowe which joined the PHN Group in December 2011. PHN deals mainly with management, administration, trade and property lease.

The effect of positive decision about concentration will be taking over minority package of PHN's shares by Ringwood Financial. Coopartnership will get also permissions allowing her to make a significant impact on Polski Holding Nieruchomości.

Regulations say that a transaction has to be reported to antitrust office, and if entrepreneurs take part in this with a total turnover in the preceding year exceeding 1 milliard Euro in the world or 50 million Euro in Poland. If concentration will not be finalized within two nearest years, the permission of Office of Competition and Consumer Protection will expire.

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