Kulczyk to buy shares in Ciech
KI Chemistry from the Kulczyk Investments capital group will buy Ciech shares despite not achieving the minimum level of tender subscriptions, the offer’s manager DM BZ WBK said on Monday.
The tender offer, for up to 66 percent in Ciech, expired last Friday. The final number of subscriptions amounted to less than 31,619,946, or 60 percent of the shares, which had been set as a minimum threshold.
The State Treasury, holder of 38.72 percent stake in Ciech, declined to comment on the tender results. Last week Treasury Minister Włodzimierz Karpiński said that the new price offered by KI Chemistry, PLN 31, was “not bad.”
