Qinvest named as Polish shipyard buyer

Two historic Polish shipyards sold off last month went to Qatari fund Qinvest, Poland's Treasury Minister Aleksander Grad revealed on Tuesday after an official silence on the buyer.

"Qinvest, a Qatari investment fund, is the investor. The deal is guaranteed by the Qatar Islamic Bank. The payment is expected by July 21, which will allow the procedure to be completed," Grad told reporters in Warsaw.

The Gdynia and Szczecin yards on Poland's northern Baltic coast were sold for around 82 million euros ($115 million). They hold particular significance for many Poles as the cradle of protests against the communist old order.