Treasury toasting competition for Polmos Białystok

Central European Distribution Corporation, Polmos Lublin, and Sobieski Dystrybucja placed their updated bids for a 51% stake in Białystok yesterday. Depending on how much they are willing to pay, the Ministry will decide whether an extra 10% stake would be allocated to the strategic investor or to individual investors, whose bids in the IPO were reduced by more than 90% due to oversubscription. The former solution is likely to prevail because of price considerations. The Treasury is expecting to obtain an amount significantly exceeding zł.1 billion from the sale, of which zł.400 million would come from the IPO and the rest from the strategic investor. The deal is likely to be finalized in the summer. (Parkiet, p.3) T.J.