Treasury is trying again to sell off its stake in Rolimpex

The State Treasury has decided to sell its 24.45% stake in food-concern Rolimpex. It will be bought by American stock-feed enterprise Central Soya. The value of the contract is not yet known, but it is expected to be above the current book-value of zl. 7.60 per share. Last year, the Treasury tried to sell its stake in Rolimpex to Danisco Sugar, but the offer was too low. For the past couple of years, Rolimpex has been heavily indebted, and last year it had to sell off some of its assets. A condition of the sale is that Rolimpex sell all its stakes in partnerships not connected with stock feed. Another condition is a reduction of the workforce, which will be discussed by the management board and unions today. "I prefer to discuss facts not intentions, and no decision has yet been made," said Rolimpex's vice-president Andrzej Budzinski. (Gazeta Wyborcza, page 30) M.M.