POLAND. The Polish Ministry of State Treasury has invited bids for the 26.83% share it holds in duty free retailer and shipchandler Baltona. The Ministry previously launched an unsuccessful sale of the shares five years ago, as part of the restructuring and privatisation of Poland’s state-run companies.
The Ministry said it would invite offers for the shares via a public tender, with a deadline of 1 March.
The number of shares on offer is 4,790, equivalent to the whole of the government’s stake. The minimum price per share that the Treasury has set is PLZ1,278 (US$441).
Foreign Trade Enterprise Baltona was established in 1946 as a limited liability company, and it was converted into a joint-stock company in 1984. It is one of the oldest companies connected with Poland’s maritime trade and economy.
Baltona is Poland’s biggest airport retailer, with stores at Gdańsk, Katowice, Kraków, Poznań, Rzeszów, Warsaw and Wrocław airports. Gebr Heinemann supplies the company with its duty free goods.
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