Investors line up to buy stake in energy distributor Stoen

The Treasury is seeking a strategic investor in Warsaw power distributor Stoen. A minimum 10% stake in the company, whose share of the domestic energy market is estimated at some 5%, is up for sale. Potential bidders have until November 16 to submit their offers, and the Treasury will draw up a short-list of candidates by November 18. According to Prawo i Gospodarka, the stake will be sold in the fourth quarter of 2002, unless the Treasury changes the rules of the privatization. Interest in Stoen, which is valued at $500 million, is expected to be very high. The RWE Group of Germany has already announced that it plans to bid for the stake, and according to unofficial sources, Vatenfall of Sweden and domestic conglomerate Elektrim may also be interested. (Prawo i Gospodarka, p. 5) A.Z.