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Treasury outlines PLN 15bn privatisation programme for 2012-2013


2012-03-28



The Ministry of the Treasury has drawn up a list of 300 companies which it wants to privatise by the end of 2013, in a sell-off programme expected to fetch PLN 15bn (approx. €3.6bn), according to a new strategic document titled The Privatisation Plan 2012-2013, approved by the government on 27 March.

The list includes both firms wholly-owned by the state and companies already listed on the Warsaw Stock Exchange (WSE) in which it keeps a controlling stake. In 85% of the cases the Treasury plans to make a complete exit. In the remaining 15% of the cases – companies deemed strategically important in sectors such as energy, financial services or defence – the state aims to retain a majority stake or effective control.

Thus the Treasury aims to exit banking group BGZ and the National Depository for Securities (KDPW), sell further stakes in leading financial services groups PZU, PKO BP or the WSE itself, and in energy groups Enea, Energa, PGE, or ZE PAK. It also plans to initiate the privatisation of 44 transport companies, including PLL LOT, Eurolot, and PKP Cargo and local bus companies; 35 food and agricultural companies; and to continue or initiate the privatisation of nine chemicals firms. Furthermore, stakes in leading mining groups JSW, KHW, KW, Weglokoks, Adamow and Konin are to be sold through the WSE, as are shares in Bumar, the defence group.

The 2012 budget envisages revenues from privatisation of PLN 10bn (€2.4bn).



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