Poland to spread privatization process over 3-4 years - Treasury Minister
October 15, 2012
Poland will likely spread privatization process over 3-4 years and plans to retain controlling stakes in strategic companies, Treasury minister Mikolaj Budzanowski told reporters on Friday.
According to Budzanowski's earlier comments, privatization will be conducted through BGK and SPV Inwestycje Polskie from 2014 moving forward.
"There will be no fire sale of Treasury-held firms, it will be spread over time, it will take place in coming months and years," Budzanowski said.
Comments follow suggestion by Finance Minister Jacek Rostowski that BGK would be capitalized with PLN 10 billion in shares of state-held firms, which will be subsequently sold on the market to finance investments.
Despite changes to the privatization path and allocation of receipts - which from 2014 will be used for pro-growth investments - plans for particular companies' privatization scopes and schedules. Also, Poland still plans to keep controlling stakes in its strategic firms.