Last Polish partner withdraws from Rotch consortium

Konsorcjum Gdanskie (KG), the group of private filling station owners, has decided to withdraw from the consortium bidding to purchase a 75% stake in Rafineria Gdanska. KG had been the last remaining domestic entity which pla nned, together with Rotch Energy of Britain, to bid in the refinery's priva tization, after Kredyt Bank decided to quit earlier this year. KG may now t ake the matter to court, since it considers Rotch to have been in violation of their agreement. Commenting on the case, KG president Andrzej Szczesniak accused Rotch of failing to consult KG on the issue of the resale to Rotch of shares in the refinery in the event that the investment failed to yield the expected profit. Countering the accusation, Rotch president Victor Bora ks said his company never refused to discuss the matter, and he insisted th at it would be better if KG remained in the consortium. He added that Rotch is still keen to find a domestic investor who would participate in the Rafi neria Gdanska purchase. The government will decide on October 2 whether to go ahead with the sale to Rotch. (Puls Biznesu, p. 7) P.J.