18 June 2012 17:17 [Source: ICIS news]
LONDON (ICIS)--The Polish treasury ministry has agreed to examine synthetic rubber producer Synthos' zlotych (Zl) 1.96bn ($587m, €461m) bid for nitrogen fertilizer, caprolactam (capro) and melamine producer Zaklady Azotowe Pulawy (ZAP), the ministry said on Monday.
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The ministry holds 50.67% and 32% stakes in ZAP and ZAT, respectively.
Synthos' move for ZAP, based in central-eastern
“It could mean ZAP remaining in the circle of domestic ownership, which is something that I personally really like,” said Pawlak.
“If the state wishes to withdraw from such industrial assets, let it leave but we can at least stick with national possession,” he added.
As part of its latest plan to raise proceeds from privatisation, the Polish government has said it wants to exit the Polish chemical sector by the end of 2013 at the latest.
Synthos, Europe's second largest maker of synthetic rubber and based in
($1 = €0.79)
($1 = Zl 3.34, €1 = Zl 4.25)
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