Dutch insurer Eureko and the Polish government have reached an agreement regarding a 10-year-old dispute over the ownership of insurance firm PZU.

Poland are set to remain in control of PZU, but will pay a one-off dividend of zł.12.75 billion to Eureko. On top of this, the Dutch company will receive zł.4.77 billion as part of the deal.

The Treasury plans to float the Polish insurer in 2010, Minister Aleksander Grad said on Friday. "PZU will appear on the stock exchange. We hope this will happen by the end of next year," Minister Grad told a news conference.

Eureko, for its part, has agreed not to pursue an arbitration case against Poland, and have also agreed to an initial Public offering of PZU shares. (JJ/RG)

Source: Thomson Reuters