Investors line up for third try at buying Polmos Bialystok

The Treasury is set to announce the third attempt to privatize Poland's largest spirits producer, Polmos Bialystok. Although the distiller, with a 23.6% share of the domestic market, appears to be a very attractive investment proposition, two previous privatization bids failed, due to the Treasury's high $150 million valuation of the company. Potential investors are aware that beside the initial investment they will also have to spend heavily, probably $15 million to $20 million annually, on the development of the company's distribution and marketing network. However, with the Treasury likely to reduce its asking price there is expected to be a huge response from interested investors. Among the companies most widely mentioned as potential bidders are Allied Domecq of Britain, Poland's own Roleks, and Eckes of Germany. (Prawo i Gospodarka, p. 1) A.K.