KSC looking to fund restructuring with minority sales of sugar plants

Domestic Sugar Holding KSC is concluding the first transaction in the sale of its minority stake in two sugar plants in Pelplin and Glinojeck, which are already controlled in majority by British BSO. The proceeds will be added to funds reserved for restructuring strategic companies in the group. KSC refused to reveal any details of the transaction, but the company might receive as much as a few dozen million złoty. "BSO wants to purchase all other shares, including the state's golden shares. It will take all or nothing," said executive director at KSC Artur Olkowicz. The head of BSO in Poland, Stan Dziedzic, went on to say: "Neither farmers nor employees will lose on the transaction. We await the decision of KSC." The decision of the state concerning the golden shares is expected on September 24. (Puls Biznesu, pp. 1, 4) M.M.