Poland expects bids on PHN developer shares in April
March 21, 2014
The Polish treasury sees interest in its WSE-listed real estate holding PHN and believes a bid could be announced in April, after the closing of virtual data room, deputy Treasury Minister Pawel Tamborski said on Thursday.
"The data room will be working until the end of March," Tamborski said. "It is technically possible that a bid on PHN shares will appear in April."
According to press speculation, potential investors for PHN include Ghelamco, Lone Star Funds and its listed unit GTC as well as various private equity funds.
Poland expects to close the privatization of PHN by mid-2014, Tamborski said back in December 2013.
Poland holds a 73.13% in the firm, a stake that the market values at nearly PLN 1 billion zlotys.
The treasury plans to sell the stake to a "strategic" investor, meaning a real estate company or investor in the sector.