In Brief: Watina; Jeronimo to sell Ladybirds; Budmex and Dromex; PZU; PKP
The Treasury Ministry has invited bids from investors interested in the
privatization of textile manufacturer Watina from Leczyca. (Puls Biznesu,
page 6) ... Portuguese supermarket chain Jeronimo Martins is reportedly
considering selling off a part of its Polish network of Biedronka
(Ladybird) discount stores. According to Trade magazine, at the end of
1999 the Biedronka network consisted of 585 stores and recorded estimated
revenues of zl. 1.6 billion (Puls Biznesu, page 7) ... Construction
company Budimex S.A. will increase its stake in road-building firm Dromex
from 46.56% to over 99% through a purchase of shares from three investment
funds. (Parkiet, page 2) ... According to Prawo i Gospodarka, the initial
public offering of insurer Powszechny Zaklad Ubezpieczen (PZU), slated for
early 2001, could be postponed by as much as three months if a personnel
conflict between PZU and its subsidiary PZU Zycie is not resolved. (Prawo
i Gospodarka, page 1) ... Polish State Railways (PKP) will not sign an
agreement with energy distributor Energetyka Kaliska to repay zl. 6
million in debts. (Gazeta Wyborcza, page 16)
