Deadline looms for Poland chemicals privatisation bidders

30 November 2009 16:04  [Source: ICIS news]

PRAGUE (ICIS news)--Shortlisted bidders for the flagship privatisation package of Poland's chemical companies have been given a final two to three weeks to make binding offers, restructuring agency Nafta Polska said on Monday.

The winner of the package would then be encouraged to consider making a strong bid for polyvinyl chloride (PVC) and nitrogen fertilizer producer Anwil very early in 2010, the agency added in an update on the delayed privatisation.

The package comprises controlling stakes in chemical group Ciech, fertilizer, caprolactam and polymer producer Zaklady Azotowe Tarnow (ZAT) and nitrogen fertilizer, plastics and oxo alcohols producer Zaklady Azotowe Kedzierzyn (ZAK).

Anwil is being sold by state-controlled oil, chemical and petrochemical company PKN Orlen.

Nafta Polska has shortlisted six bidders for the package; US-based private equity firm Bain Capital Ltd; London-based private equity firm Cinven Ltd in a consortium with Polish human resource and interim management services company Kolaja & Partners; German chemical company Petro Carbo Chem (PCC); National Qatar Industries Company; Lithuanian chemical, logistics and cargo group UAB Achema; and Polish investment fund Mistral.

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By: Will Conroy
+44 20 8652 3214

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