Kulczyk increases bid for Ciech
KI Chemistry, Kulczyk Investments subsidiary, raised its bid for a 66 percent stake in WSE-listed chemicals producer Ciech to PLN 31 per share. The initial bid stood at PLN 29.5 apiece.
Ciech’s biggest shareholder, Treasury, which holds 38.7 percent stake in the company has said earlier in May that it could sell its stake in the tender offer but that the offered price does not reflect Ciech’s market value.
The tender, already extended, expires May 30.
