Thursday, 24 September 2009

Bidders shortlisted for Poland chemical privatisation

Close-up of the flag of Poland

Poland's privatisation agency, Nafta Polska, has unveiled its shortlist for the chemical sell off it is planning.

According to ICIS news, US-based private equity firm Bain Capital; London-based private equity firm Cinven 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 have been shortlisted.

The government is selling off Ciech group and a second sector comprising fertilizer groups Zaklady Azotowe Pulawy (ZAP) and Zaklady Chemiczne Police (ZChP).

It is interesting to note that no large multinationals have chosen to participate in this sell-off. Poland is a huge and potentially fast-growing market. Can these companies be in such bad shape that they are of no interest? Or are they just too small to be worth the bother?

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