Cordia International Zrt., as part of its international expansion strategy, has recently acquired 93% of Warsaw listed Polish residential developer Polnord S.A. Cordia will first report the effects of such acquisition in its half-year balance sheet, but has provided guidance on its positive effects on the company’s equity capital. In accordance with this, Cordia may record around PLN 170.4 million (approx. HUF 13.6 billion or €38.2 million) of profits from the recent takeover of Polnord.

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• Cordia group
• Expansion
• Poland