Krakow’s president, Marian Cwiertniak, told the news agency Interfax that the company was negotiating with Belvedere Dystrybucja. Cwiertniak added that the privatisation of Krakow is expected to take place via a PLN24m share issue aimed selected investors. However, before the sell-off can happen, Krakow has to settle its current debt problems with major creditors, the Polish State and the agro-sector bank BGZ, which is itself partially state controlled. Cwiertniak expects that process to be completed by the end of July.
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