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Polish Treasury Cancels Ciech Adviser Tender, Parkiet Reports

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Jan. 21 (Bloomberg) -- Poland’s Treasury canceled a tender to find an adviser for the sale of chemical company Ciech SA, Parkiet reported, citing the ministry.

It is in the public interest to sell the government’s stake in Ciech at the “most advantageous price” and the current economic situation is too “volatile and unpredictable” to guarantee this, the newspaper cited the Treasury as saying. The state owns 38.7 percent of Ciech, according to the company’s website.

To contact the reporter on this story: Katya Andrusz in Warsaw at kandrusz@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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