In Brief: SSSB, JP Morgan launch treasury bonds; Rafineria Gdanska; VNG

Schroeder Salomon Smith Barney (SSSB) and JP Morgan banks were chosen to head a consortium which will be in charge of placing Polish 10-year treasury notes worth $750 million on the American market. The sale will take place by the beginning of July. (Prawo i Gospodarka, p. 2) ... According to sources quoted by Puls Biznesu, Rafineria Gdanska, in the event that the Briti sh-Russian consortium of Rotch Energy-Lukoil fails to acquire a 75% stake in the company, will make an initial public offer (IPO) on the Warsaw Stock Exchange (WSE). This would be possible by July 2003. (Puls Biznesu, p. 4) ... German gas company VNG announced plans to invest zl. 64 million in Karlin based Petrico, a company also specializing in trading gas. VNG already owns a 30% stake in Petrico, while the rest of the shares belong to Polish Oil and Gas (PGNiG). (Prawo i Gospodarka, p. 4) A.K.