Banks ready to finance Rotch bid for Rafineria Gdanska

Westdeutsche Landesbank, the Industrial Bank of Japan and Pekao SA are reportedly ready to offer Rotch Energy the financial backing it needs to complete the first phase of its Rafineria Gdanska (RG) privatization bid. According to Puls Biznesu, the three banks will together offer Rotch financial backing to the tune of approximately zl.2.1 billion, with a final decision on the loan likely to be made by the middle of October. Sources quoted by Puls Biznesu say that the Rotch bid values the 75% stake in RG at zl.1.2 billion. They add that the sale is likely to be finalized by the end of the year. (Puls Biznesu, p. 5) P.J.