• CEO Tamborski gives anti-corruption agents data from his iPad
  • Ciech drops as much as 6.1% before recouping most losses

Poland’s anti-corruption agency entered the offices of the Warsaw Stock Exchange and the Treasury Ministry on Wednesday in its probe of the 2014 sale of state-run chemical producer Ciech SA to the country’s then-richest man Jan Kulczyk.

Bourse Chief Executive Officer Pawel Tamborski, who was deputy Treasury Minister at the time of the transaction, left his office with the agents. He later returned after handing over computer data on his tablet, Tamborski said in an interview with TVN24 BiS. The executive wasn’t questioned and doesn’t plan to step down, he said. Prosecutors asked the anti-corruption agency CBA to secure documents in its investigation of Ciech, the country’s second-biggest chemical company, spokesman Zbigniew Jaskolski told Polsat News television.

Kulczyk Investments SA, the holding company of billionaire Jan Kulczyk, who died in July from complications after surgery in Vienna, bought a 51 percent stake in Ciech for 835 million zloty ($225 million) in a public tender in May last year. The Treasury, which until then controlled the company, sold its entire 37 percent stake at 31 zloty per share. The stock dropped as much as 6.1 percent on Wednesday, before trading at 70.45 zloty, or 1.5 percent lower, at 3:55 p.m. in Warsaw.

“The investigation into Ciech has been taking place for several months,” the Treasury Ministry said in a statement. “We have been sending materials to the appropriate authorities and today CBA agents came to secure additional documents and servers.”

Kulczyk Investments spokeswoman Marta Wysocka-Antonsen declined to comment when reached by phone, as did Ciech spokesman Maciej Powroznik.

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