Sales advisor chosen
Management of Nafta Polska has decided that the privatisation advisor for the remaining 18 percent stake the treasury owns in oil refiner and retailer PKN Orlen will be BNP Paribas.
The treasury floated 72 percent of PKN Orlen on the Warsaw and London stock markets in 1999.
This time the sale however could be delayed owing to an up coming no confidence vote in the treasury minister and if it gets delayed further it is almost certain to be postponed by the next SLD government which is practically sure to win the general election on 23 September. The present government had delayed the sale, which is likely to interest the Austrian OMV and Hungarian MOL, as it did not want it to interfere with the smaller sale of the Gdańsk refinery.