Privatization
Financial investors make a bid for Mennica Państwowa
Financial investors, including several pension and investment funds, are reported to have made a bid to buy government-owned stake in Mennica Państwowa, Poland?s state mint. The group may include Multico, an investment company controlled by Polish businessman Zbigniew Jakubas, who already owns 24.9 percent of Mennica and has just received SEC approval to raise his stake to 33 percent. Government stake in the company is worth approximately 165 million zloty ($44 million).
Polish Treasury Ministry has rejected a previous bid for Mennica by Mr. Jakubas. It said the offer was ?too low?.
Sources speculate sale of Mennica may depend on the success of upcoming IPO of PKO BP. At 5 to 6 billion zloty, the IPO will account for the majority of this year?s privatization target of PLN 8.8 billion.
By late August Poland raised...