Tag Archives | privatization

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Poland chemicals privatization to restart in September

The privatization of Poland’s chemical industry may lurch into action again later this year, according to the country’s treasury ministry which gives September for the kick-off.   Since 2007, Poland has twice abandoned efforts at completing the sell-off of substantial state-held assets in its chemical industry, citing unsatisfactory bids. According to ICIS news, efforts at […]

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Privatization of Ciech to restart – third time lucky

Observers of the Polish government’s efforts to sell off parts of its chemical sector may raise their eyebrows at the news of its relaunch of the privatisations of Ciech, the country’s largest chemical group, and fertilizer producer Zaklady Azotowe Pulawy (ZAP) in the second half of this year. Previous attempts have failed twice thanks to […]

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Stock market float planned for Poland chemical groups

The sorry tale of failed privatizations in Poland’s chemical industry is a familiar one to anyone with an interest in that region. After the collapse of the tender process for top fertiliser and melamine producers Zaklady Azotowe Pulawy (ZAP) and Zaklady Chemiczne Police (ZChP) we now learn that the government is considering another attempt, but on […]

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Oltchim privatization plans unveiled

After intervention from the International Monetary Fund (IMF), Romania’s economy ministry aims to sell its 54.79% majority stake in loss-making chemical producer Oltchim, according to ICIS news.  Germany’s Petro Carbo Chem – an activist shareholder is likely to be interested. Economy mnister Ion Ariton is also revealed that Oltchim’s creditors, including Erste Group’s Banca Comerciala Romana could […]

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Germany’s PCC renews interest in Romania chemical group Oltchim

As predicted in last week’s blog post, Germany’s Petro Carbo Chem (PCC) has restated its interest in buying out the state’s remaining 54.79% stake in Romania’s Oltchim.  PCC currently holds a 12.16% stake in Oltchim and now an activist shareholder has restated its interest in examining a bid for the financially-troubled company following pressure from […]

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Privatization of Romania chemical group Oltchim moves up a gear

Trawling through my Google Reader I found this story which suggests the privatization of Romania’s Oltchim could be moving into gear. This press report suggests that investment funds may be interested in buying a stake. But I would have thought that the existing international investor, Germany’s PCC, would be the obvious candidate to boost its […]

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Poland sticks to chemical privatization plan

The botched privatization of parts of Poland’s chemical industry has been well documented by this blog. As a general pattern, the assets are touted for sale and attract little interest and low offers from domestic and international players and investors. Next, the government rejects the offer, and the process grinds to a halt. Now the […]

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Brenntag pulls out of acquiring Cheman from Poland’s Ciech

The somewhat farcical Poland chemicals privatization really is limping along and looks set to grind to a halt altogether. The latest bad news is that German distributor Brenntag has opted not to pursue its interest in acquiring the chemical distributor subsidiary Cheman from Polish chemical group Ciech.Brenntag’s due diligence must have thrown up some horrors […]

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Poland extends privatization deadline to 23 July

There is now more breathing space for bidders wanting to buy a stake in Poland’s ZAP chemical plant in Puławy and Zakłady Chemiczne Police.According to polishmarket.com the Polish Treasury has extended until July 23 the deadline for investors planning to place initial offers for the purchase of ZAP and Police, the Treasury has said in […]

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Will Ciech sell off and IPO be death by a thousand cuts?

In the past few days Poland’s major chemical group, Ciech, has announced plans to sell its fertilizer, agrochemical, silicates and glass units. Prior to that there was discussion of a possible initial public offering (IPO) for its soda ash business. If all these go ahead the group will only be left with its organic chemicals […]

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