The PZU privatization tender begins to take shape

So far eight companies are bidding in the tender. If the conflicting shareholders - Eureko, minority shareholders and the Treasury reach an agreement, then PZU's stock will be floated in the summer. "The offering parties propose their remuneration. As usual this will consist of two parts - a fixed amount for the analysis, and commission depending on the size and the structure of the offer. Our benchmark will be the rates proposed during the privatization of PKO BP," said an anonymous representative of an advisory company. With PKO BP, the fixed remuneration amounted from zł.10.4 million to zł.13.2 million, while the commission - from 0.18% to 0.82% depending on whether the tranche was directed to the domestic or foreign market. According to one analyst, the state will offer roughly 25% of its 55% stake in the insurer. The European Bank for Reconstruction and Development (EBRD) might separately acquire a 5% stake in PZU. (Puls Biznesu, pp. 1, 5) M.M.