Last minute jostling for majority stake in Naftobazy

Yesterday Nafta Polska (NP), the body responsible for privatization of the oil sector, was to approve recommendation of its privatization advisor BRE Corporate Finance about choosing a candidate with exclusive rights for the sale of between 51%-65% stake in Naftobazy, the largest liquid fuels storage company. "We recommended one of the biggest international fuel logistics co mpany Vopak from Netherlands," said a person involved in the privatization process. However, up to Puls Biznesu press time it was still unknown whether NP accepted this recommendation. Another offer for Naftobazy was made by Ge rman Oiltanking. In the meantime PKN Orlen, which was refused entry into the privatization, signed a letter of intent with Austrian IVG about the creati on of joint venture company worth roughly zł. 600 million. PKN informed that it aims at, "Creating an independent logistics operator offering complex se rvices". (Puls Biznesu, pp. 1, 6) M.M