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Regions :: Eastern Europe :: Poland

KI Chemistry buys majority stake in Ciech

1:53 AM MDT | June 5, 2014 | Natasha Alperowicz

KI Chemistry, a unit of Kulczyk Investments controlled by Poland’s richest man, Jan Kulczyk, has agreed to buy 51.1% stake in the chemical producer Ciech (Warsaw) following an increase in its initial offer. Kulczyk had intended to buy at least a 60% share in Ciech for 1.08 billion zlotych ($354.3 million).   As part of the bid announced in March, Ciech last month signed a conditional agreement with KI Chemistry covering strategic cooperation. Under the terms of that agreement, the bidder pledges to support Ciech in its current activities and set up a...

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