Grupa Azoty not for sale - Treasury
22:34
“The Ministry has no intention of selling the group's shares. Maintaining the status of the group as strategic for the Polish economy is guaranteed by, among others, appropriate clauses in the articles of association as well as stable, long-term shareholders interested in the development of the group,” the ministry wrote in a statement.
This statement follows the news, that Russian Acron has increased its stake in the Polish chemical giant to 20 percent. The state has 33 percent of the Grupa Azoty shares.
Form months, Acron said that it wants to increase its stake in the company so it could have its representatives in the Grupa Azoty’s management board and the right to vote. The company’s CEO however holds a tie-breaking vote on the management board.
