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The Warsaw Voice » Business » May 19, 2014
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KI Chemistry cleared by anti-monopoly body to acquire Ciech
May 19, 2014   
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KI Chemistry, a unit of Kulczyk Investment, received a consent from anti-monopoly watchdog UOKiK to take over chemicals firm Ciech, as the transaction will not hinder competition on the market, UOKiK said in a statement.

KI Chemistry is bidding on 66% of Ciech at PLN 29.5 per share. 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 State Treasury, which controls 38.7% of Ciech, expressed interest in selling its stake in the offer but has withheld its decision so far.
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