Rafineria Gdanska sale likely to go ahead next week

Representatives of Rafineria Gdanska (RG) are quoted as saying it is "very likely" that an agreement on the sale of a 75% stake in the refinery will be signed within a week. The sources, quoted in Puls Biznesu, say that RG will sign the deal with British consortium Rotch Energy (RE) on July 9. According to Wojciech Zurawik, president of RG, all the conditions for the sale to RE have been discussed, including what is, in his opinion, one of the most important issues, the stipulation that the investor may not sell any shares in the company for 10 years. In addition to this, the RE consortium has presented the necessary financial guarantees. Although Zurawik refused to give any information concerning the price of the sale, RE itself has declared that it will be spending in total $1 billion on RG. (Puls Biznesu, p. 4) P.J.