01 December 2009 13:34 [Source: ICIS news]
PRAGUE (ICIS news)--A privatisation adviser to initiate the sale of Poland’s two biggest fertilizer producers – Zaklady Azotowe Pulawy (ZAP) and Zaklady Chemiczne Police (ZChP) – will be selected in January 2010, the Polish treasury ministry said on Tuesday.
The adviser would kick-start the sale process for the two companies, which comprise the so-called Chemical Group II, Deputy Treasury Minister Adam Leszkiewicz said.
A fourth-quarter 2010 deadline would probably be set for the privatisation of ZAP, Leszkiewicz said.
A much earlier deadline might be set for ZChP, given its pressing need for a business plan that might resolve its substantial liquidity difficulties, Leszkiewicz added.
The sale of the two firms should follow the conclusion of the privatisation of the companies in Chemical Group I, which is the “flagship group” comprising Ciech, Zaklady Azotowe Tarnow (ZAT) and Zaklady Azotowe Kedzierzyn (ZAK), the ministry said.
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