Potential investors disapprove of PB's planned Privatization

Janusz Palikot, co-owner of alcohol producers Grupa Jabłonna and Polmos Lublin is interested in the privatization of Poland's largest alcohol producer Polmos Białystok (PB) famous for its Żubrówka brand. Meanwhile, the Treasury Ministry is in the process of selecting a consulting company for PB's privatization. Despite several companies having filed their bids previously, the tender was frequently annulled since no one wanted to accept the price proposed by the ministry. Rumors are circulating that the ministry has not changed its requirements concerning the alcohol producers price. "I think the value of zł. 500-600 million is only slightly overestimated. I'm interested in PB's privatization" says Palikot. Other potential investors including Belvedere Dystrybucja and Central European Distribution Corporation disapprove of PB's privatization strategy under which, in the first or second quarter of 2004, the Tresury intends to list a 75% stake in PB on the Stock Exchange. (WSE). "Listing PB on the bourse makes no sense, Polmos needs a strategic investor" says Palikot. (Puls Biznesu, p. 4) A.Z.