Treasury postpones choice of HCP Cegielski investor until June 20th

The Treasury Ministry postponed its designation of a company for exclusive negotiations to buy a stake in Poznan-based ship engines producer HCP Cegielski to June 20. The shortlist for the company includes shipyard Grupa Stoczni Gdynia, Greek energy company Prometheus Gas, and a cooperative of workers and managers of Cegielski Cemag. The ministry has not revealed the reason for the delay. Unofficially it is known that it wants to propose that the investor purchase between 10% and 85% of shares. The possible price per share is likewise still unknown. Although the book value of HCP Cegielski is nearly zl.137 million, it is quite obvious that no reasonable investor would agree to pay that much; last year its parent company HCP S.A. recorded losses of zl.25.5 million. (Puls Biznesu, p. 3) M.K.