Billionaire discusses purchase of Poland’s top fertilizer firms

13 January 2010 12:28  [Source: ICIS news]

PRAGUE (ICIS news)--A wealthy Polish entrepreneur has had behind-the-scenes talks with senior Polish treasury ministry officials about the possibility of buying the country’s two largest fertilizer firms, a source at the ministry said on Wednesday.

Jan Kulczyk, the billionaire owner of Warsaw-based Kulczyk Holding and international investment house Kulczyk Investments, is looking at acquiring Poland’s largest nitrogen fertilizer producer, Zaklady Azotowe Pulawy (ZAP), and the country’s largest nitrogen phosphorus potassium (NPK) fertilizer producer, Zaklady Chemiczne Police (ZChP), the source said.

“Both these firms are up for a joint privatisation this year so it is natural that Kulczyk has been sounding out the possibilities and what the winning bidder may need to offer and so on,” said the source.

Kulczyk Holding declined to comment on whether any talks had taken place, but a source at ZAP said it was well-known that Kulczyk was weighing up the possibility of making a bid for ZAP and ZChP.

“I've heard that he has been talking to the treasury - it's no surprise that he has an interest in creating a chemical holding from the two firms [because] together they could become a big player in Europe,” he added.

Kulczyk is one of Poland's wealthiest people. His businesses currently have investments in oil and gas, energy, infrastructure, and real estate.

ZAP also produces melamine and caprolactam, while ZChP also makes titanium dioxide (TiO2).

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By: Will Conroy
+44 20 8652 3214



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