22 July 2009 17:11 [Source: ICIS news]
PRAGUE (ICIS news)--Poland has expanded its 2009-2010 national privatisation programme, with major stakes in fertilizer, titanium dioxide (TiO2) and biofuel producers a key element of the plan, the Polish treasury ministry said on Wednesday.
Analysts said the extent of the programme, with ministers now targeting receipts of up to zloty (Zl) 30bn ($9.9bn, €7.0bn) for 2009-2010, instead of Zl15-20bn, surprised the markets. Trade union leaders at big privatisation target, copper group KGHM, said they would push for strike action.
A minority stake in the second-largest Polish refiner and biofuels producer, Grupa Lotos, was among the assets newly announced as available to investors.
The treasury ministry also reiterated its determination to see ?xml:namespace>
Initial bids for the flagship package of the process - Ciech, Zaklady Azotowe Kedzierzyn (ZAK) and Zaklady Azotowe Tarnow (ZAT) – need to be lodged by 10 September.
Bank Pekao said the
($1 = Zl3.02, €1 = Zl4.28)
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