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The Warsaw Voice » Business » May 15, 2014
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KI Chemistry cleared to take over Ciech
May 15, 2014   
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KI Chemistry, an investment vehicle of business mogul Jan Kulczy, received an unconditional consent by antitrust body UOKiK to take over listed chemicals group Ciech, offer manager DM BZ WBK said in a statement.

KI Chemistry, a unit of Kulczyk Investments, bid on 66% of Ciech at PLN 29.5 per share in a tender offer expiring on May 30. The bidder said it would go through with the transaction if at least 31,619,946 shares were tendered but reserved the right to drop that requirement.

The company intends to keep Ciech listed on the WSE.

Poland’s Treasury holds a 38.7% stake in Ciech.
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