New Bartimpex strategy leads to partnership with Rotch

Poland's largest private gas importer Bartimpex has said it is going to join forces with British investment group Rotch Energy to purchase Rafineria Gdanska (RG). The British company is seeking to buy a 75% stake in RG, but has so far failed to receive approval from the Treasury, which claims Rotch does not have the necessary financing for the $1 billion deal. Bartimpex's support for Rotch is in line with a new strategy announced by company president Aleksander Gudzowaty yesterday. In an interview with the Polish Press Agency (PAP) Gudzowaty explained, "Our new activities will involve acting as an intermediary in attracting foreign capital. As a result we may bring in up to $2 billion or $3 billion by the end of 2003." The new investments will support Poland's gas infrastructure and the construction of power plants. Gudzowaty said he does not rule out involvement in more privatization deals, possibly in partnership with US investors. (Parkiet, p. 2; Reuters) A.Z.