Reuters – Polish Tarnow on the Sales Block

German chemical group PCC could team up with private equity funds to make a counter bid for Azoty Tarnow after Russia’s Acron offered 1.5 billion zlotys ($438.7 million) for the Polish chemicals maker, writes Reuters.

Reuters – German chemical group PCC could team up with private equity funds to make a counter bid for Azoty Tarnow after Russia’s Acron offered 1.5 billion zlotys ($438.7 million) for the Polish chemicals maker, daily Parkiet reported on Friday.

The newspaper, without citing sources, said Polish businessman Michal Sololow, who controls chemicals maker Synthos, could also enter the fray, but added it was unlikely.

Parkiet quoted PCC Chief Executive Waldemar Preussner as saying the company was not looking to make a deal at the moment, but could be interested in the future.

A spokesman for Solowow declined to comment.

The Polish treasury ministry, which oversees state assets and holds 32 percent in the 2.5 billion zloty ($731.2 million) Tarnow, has rejected Acron’s offer and has said a counter bid could not be ruled out. ($1 = 3.4192 Polish zlotys) (Reporting by Adrian Krajewski; Editing by Jon Loades-Carter)