25% stake in G-8 estimated at zł. 1 billion say El-Dystrybucja

El-Dystrybucja, controlled by Poland's wealthiest man, Jan Kulczyk, has estimated the value of a 25% stake in G-8, a group of companies from the energy sector, at zł. 1 billion. This is an offer presented by the company, which is 50% less than that of last year and is closer to that offered by German company E.ON. According to sector analysts it is unlikely that the State Treasury will decide to sell the stake at this price. The main reason behind last year's tender annulment for the privatization of the G-8 group was the lack of trust towards Kulczyk's financing sources, a doubt which is of much lesser significance in the second offer. "This is not the optimal price or the optimal investor. Unfortunately it is impossible to receive a better offer for a tender, where there is no competition," says an anonymous sector analyst. (Puls Biznesu, p. 8) A.K.