Kredyt Bank support makes BOS the favorite in PMB meat privatization

Three potential investors have been shortlisted for the privatization of Poland's biggest State-owned meat company, Przemysl Miesny Bialystok (PMB). The possible buyers are the ZM Duda meat company, food distributor BOS, and a consortium of PMB employees. Of the five entities that submitted initial offers two, Kredyt Bank and Bydmeat, decided to withdraw. However, Kredyt Bank may yet play a significant role in any deal. "Kredyt Bank is the biggest creditor of the company and is still involved in the privatization as an adviser. We will consult with them on the choice of an investor," said Antoni Stokowski, head of the restructuring department at the Podlaskie Voivodship Office. According to Puls Biznesu, Kredyt Bank supports the BOS bid, although BOS president Piotr Laskowski said he was not permitted to comment. Kredyt Bank is believed to be owed around zl.30 million by PMB, and fears that given the company's financial condition it may have difficulty recouping the debt. According to unofficial information, BOS and ZM Duda are both prepared to offer between zl.20 million and zl.30 million for a 70% to 80% stake in PMB. (Puls Biznesu, p. 3) P.J.