The next step to reprivatise the Ciech Chemical Group was taken. Ciech, Azoty Tarnów, Zakłady Azotowe Kędzierzyn and Nafta Polska concluded an agreement with advisors that would support the searching of an investor.
Together with the partners of the Polish Chemical Consortium Zakłady Azotowe in Tarnów-Mościce SA (Azoty Tarnów) and Zakłady Azotowe Kędzierzyn SA (ZAK), Ciech signed up a multilateral agreement with Nafta Polska SA and Financial Advisors: Raiffeisen Investment AG and Raiffeisen Investment Polska Sp. z o.o. (Ltd.) and a Legal Advisor Radzikowski, Szubielska i Wspólnicy Spółka Komandytowa (Limited Partnership).
This agreement begins the process of searching and selecting an investor or investors so that they could acquire shares of Azoty Tarnów, ZAK and Ciech. Except for the purchase of assets, they could at the same time take over shares in the increased capital of Companies. Following the preparatory phase, the announcement on negotiations concerning sale of shares of Azoty Tarnów, ZAK and Ciech will take place. Next Nafta Polska SA and Companies, with the participation of Financial Advisors and a Legal Advisor, will conduct negotiations with selected prospective investors.
Nafta Polska SA was authorized by the State Treasury – the largest shareholder of Ciech SA – to carry out all activities aiming at selecting one or a few investors interested in the purchase of shares of the aforementioned Companies and financial support for their investment projects.
Today’s signing up of an agreement is a result of activities of Nafta Polska SA and Polish Chemical Consortium aimed at the reprivatisation of the chemical sector.
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press release download:  Searching of investors began |
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Ciech Chemical Group is the largest chemical concern in Poland and one of the leaders in the Central European market. It includes more than 30 companies, it is among one hundred largest economic organizations in Poland. The main Group’s products include soda Ash (second place in Europe), salt, phosphorus and multi-component fertilizers, epoxy resins and other organic chemical products used in the glassmaking industry, furniture industry, building industry and agriculture. With annual revenues of approximately PLN 3.8 billion, the Ciech Chemical Group is among one hundred largest Polish enterprises (49th position on “Lista 500” prepared by Polityka weekly magazine and 59th position on “Lista 500” prepared by Rzeczpospolita daily in 2007). As from February 2005, Ciech SA has been listed at the Warsaw Stock Exchange. The greatest shareholders of the company include the State Treasury (36.68 percent of shares and votes at the General Meeting of Shareholders), Pioneer Pekao Investment Management SA (18.77 percent) PZU "Złota Jesień" Open Pension Fund (6.12 percent). You can find more information at www.ciech.com.
Media contact:
Krzysztof Grad, Spokesman of Ciech Chemical Group, Director of Communication Office of Ciech SA,
tel.: (+48 22) 639 13 18, mob.: 0 669 600 011, e-mail: krzysztof.grad@ciech.com |