A team of GESSEL lawyers led by Aldona Pietrzak has provided comprehensive legal services to an investment fund managed by KGHM TFI S.A. in the process of privatisation of Zespół Uzdrowisk Kłodzkich Spółka Akcyjna (ZUK S.A.), operator of spas and hotels.

Our client entity, Fundusz KGHM I Fundusz Inwestycyjny Zamkniętych Aktywów Niepublicznych, purchased – true to its focus on health care projects – a 90.09% stake in the company from the State Treasury. The share purchase agreement was signed on 20 October 2010; the transaction value is PLN 138.2 million.

ZUK S.A. is the largest Polish company of its kind. Apart from its core activities, it also produces and distributes an assortment of mineral waters, including flavoured water and water with medicinal qualities. Its facilities provide treatments for heart, digestive, mobility, and lung ailments; they are located in fourteen distinct clinical and accommodation complexes in Polanica-Zdrój, Duszniki-Zdrój and Kudowa-Zdrój, in the Kłodzko region.