Latest news with #BGK
Irish Post
3 days ago
- Business
- Irish Post
Irish-based global consultancy firm CubeMatch expands presence in Britain with acquisition of DVCP
LEADING global consultancy firm CubeMatch, which is headquartered in Dublin, has expanded its presence in Britain with the acquisition of professional services company DVCP. CubeMatch, which specialises in change and transformation for the financial sector, has secured an initial shareholding in the London-based firm and anticipates a full acquisition by the end of 2026. It is the firm's second strategic acquisition this year following the acquisition of a stake in German consultancy BGK in April. The latest deal represents a major expansion of CubeMatch's presence within the British financial services sector. "Our partnership with DVCP marks a significant step forward in our UK growth strategy," said Tom Melville, Chief Executive Officer of CubeMatch. "By bringing together DVCP's respected team of specialists and our own expertise, we are uniquely positioned to help clients tackle the most complex technology and regulatory challenges in financial services. "We have a strong balance sheet and are well positioned to deliver on our strategy, delivering agile, expert-led transformation and innovation to clients globally, while continuing to seek additional acquisitions throughout this year." Founded in 2020, DVCP specialises in financial services transformation, technology strategy and programme assurance. In 2023, it gained recognition for its work on the first solvent wind-down of a British bank, devising and executing Masthaven Bank's withdrawal from the British market. Recent engagements include programme assurance for leading British building societies and support to another solvent wind-down currently underway in the British banking sector. CubeMatch was founded in 2002 and opened its Dublin office — where the group's senior leadership team is based — in 2010. As well as Ireland and Britain, the company also has a presence in the Netherlands, Germany, Singapore and India. CubeMatch provides services in strategic change, business and digital transformation, regulatory risk and compliance, data and technology, quality assurance and managed services. See More: CubeMatch, DVCP, Dublin
Reuters
29-06-2025
- Business
- Reuters
Polish power grid to get $3 billion loan to build transmission lines
WARSAW, June 29 (Reuters) - Polish power grid operator PSE will on Monday sign a deal to get a loan exceeding 10.8 billion zloty ($2.99 billion) from state-owned bank BGK to build new power transmission lines, the government press office said. PSE had said in January its transmission network development plan for 2025-2034 assumes investment of over 64 billion zloty. A fund set up by BGK and the Polish climate ministry in 2024 has earmarked 70 billion zloty from the European Union recovery funds to build and upgrade the country's power transmission network. ($1 = 3.6117 zlotys)
Yahoo
20-06-2025
- Business
- Yahoo
Poland's Gaz-System secures $593m loan for floating LNG terminal in Gdansk
Polish pipeline operator Gaz-System is set to receive a loan of 2.2bn zlotys ($593m) to develop the onshore section of the country's first floating storage and regasification unit (FSRU), reported Reuters. Scheduled for completion in 2028, the FSRU will be situated in the Bay of Gdansk and is expected to play a critical role in Poland's energy infrastructure. The project will establish infrastructure that will facilitate the offtake of increased volumes of liquefied natural gas (LNG) transported by sea, followed by regasification and delivery to the National Transmission System. The FSRU will be capable of LNG unloading, in-process storage, regasification of LNG and additional services. The loan from state-owned bank BGK is backed by EU funds and has a repayment period of 25 years. The funds will be directed towards constructing a 250km pipeline designed to link the floating LNG (FLNG) terminal to the central gas network of Poland, as detailed by BGK deputy president Marta Pustula. Earlier this year, Gaz-System completed the expansion of its LNG terminal in Świnoujście. This expansion increased the terminal's regasification capacity to 8.3 billion cubic metres (bcm), catering to nearly half of the annual gas demand of Polish consumers. In March last year, Gaz-System signed an agreement to acquire Gas Storage Poland from Polish refiner Orlen. The agreement bolsters Gaz-System's Polish gas market presence, complementing its Yamal pipeline and LNG terminal operations. Gaz-System also announced plans in April this year to modernise the Hermanowice gas metering station. This upgrade is a result of technical discussions with the Ukrainian gas transmission system operator (TSO) regarding the GCP GAZ-SYSTEM/UA TSO interconnection and aims to improve transmission system capacity, especially towards Ukraine. "Poland's Gaz-System secures $593m loan for floating LNG terminal in Gdansk" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Korea Herald
19-06-2025
- Automotive
- Korea Herald
Eximbank opens Warsaw office to aid Korean firms in Europe
The state-run Export-Import Bank of Korea has opened a representative office in the Polish capital of Warsaw to strengthen financial support for Korean companies operating across Central and Eastern Europe, the policy lender said Thursday. Launched at a ceremony Wednesday, the Warsaw office will serve as a regional base covering Poland, the Czech Republic, Slovakia, Hungary and Ukraine — markets that have become key production and export hubs for Korean firms in batteries, autos and electronics. The bank also aims to position the office as a frontline base for postwar reconstruction efforts in Ukraine. Eximbank Chairman Yoon Hee-sung led the launch event, joined by Korean Ambassador to Poland Tae Jun-youl and senior figures from Poland's state-run energy group Orlen, nuclear firm PEJ, development lender BGK and global banks including HSBC, ANZ and Citi. Yoon held separate meetings with Orlen to discuss financing for a large-scale plant project involving Korean contractors, and with BGK to explore joint export and investment support. 'Through the Warsaw office, we will respond more swiftly to local business needs and reinforce ties with major project owners,' Yoon said. Poland has recently become the most active buyer of South Korean defense equipment in the region, making it a key market for Korean arms makers. In sectors like defense and nuclear energy, often conducted as government-to-government deals, policy lender involvement is seen as a core competitive edge. Warsaw already hosts local units of Korean defense firms Hanwha Aerospace, Hyundai Rotem and Korea Aerospace Industries, along with tech and automotive conglomerates such as Samsung Electronics, LG Electronics, Hyundai Motor and Kia.
Reuters
18-06-2025
- Business
- Reuters
Poland's Gaz-System to get $593 million loan for country's floating LNG terminal
WARSAW, June 18 (Reuters) - Polish pipeline operator Gaz-System will receive a 2.2 billion zlotys ($593 million) loan from state bank BGK to finance the onshore segment of Poland's first floating storage and regasification unit near Gdansk, BGK said on Wednesday. The loan, sourced from European Union funds, will finance construction of a 250-km (155-mile) pipeline that will connect the terminal to the core of Poland's gas network, BGK Deputy President Marta Pustula told reporters. The loan will be repaid over 25 years, Pustula added. The floating storage and regasification unit will be based in the Bay of Gdansk and is expected to be completed in 2028. In January, Gaz-System completed the expansion of its LNG terminal in Świnoujście, increasing its regasification capacity to 8.3 billion cubic metres, which corresponds to nearly 50% of the annual gas demand of domestic consumers. ($1 = 3.7112 zlotys)
