In brief: Agros and Polmos; PBK-PBH merger; PKN Orlen; Pulawy
The Treasury is currently working on an arrangement between Pernod Ricard
(PR) group member Agros and Poland's state-controlled Polmos distilleries.
Under the provisions of the arrangement, Polmos distilleries would regain
the right to the brand names of all vodka currently owned by PR except the
Wyborowa brand. The proposal also foresees PR taking a strategic position in
Polmos Poznan, the second largest distillery in Poland (Prawo i Gospodarka,
p.1) ... Shareholders in Powszechny Bank Kredytowy (PBK) and Bank
Przemyslowo-Handlowy (BPH) say they may block the two bank's planned merger,
if a parity between the banks' shares acceptable for both sides cannot be
agreed upon. (Puls Biznesu, pp.6,7) ... As expected, an 18% stake in PKN
Orlen, Poland's largest oil refinery, will be floated on the Warsaw Stock
Exchange (WSE) this year, Treasury Minister Aldona Kamela-Sowinska confirmed
yesterday. (Rzeczpospolita, p.B2; Reuters) ... Poland's Treasury plans to
float a 46% stake in chemicals plant Pulawy on the WSE in the first half of
2001, a ministry official said on Thursday. The company, which made $13.20
million in net profits last year, would debut in late May or June. (Reuters)
J.K.
