The Treasury has received four bids for the purchase of Polmos Szczecin, a state-owned producer of spirits which is on the brink of bankruptcy. The Treasury sent notification of the tender to 48 potential investors, of which four responded: the Czech Sasky Dvur, Poland’s Transborder Marketing, the American Great Harbor Distribution and Britain’s The Brand Distillery. None of the largest spirits producers on the Polish market have decided to take part in the tender.

The ministry will now analyse the offers and select those firms which will be allowed to carry out due diligence of the Polish distiller.

The Polmos privatisation will be carried out by means of an increase in its initial capital and the sale of all of the new shares. The new owner would need to invest at least PLN 15m (€3.8m) in order to save it from bankruptcy.

In H1, Polmos Szczecin reported sales revenues of PLN 7.3m (€1.8m) and a loss of PLN 2.4m (€0.6m). It owes as much as PLN 33m (€8.3m) to the BGZ bank and Customs Office.