Kulczyk firms note mixed fortunes

Shares in chemicals company Ciech recovered to about PLN 70 in Thursday afternoon trading after falling on Wednesday from around PLN 72 to PLN 67.5 on the news. Kulczyk bought a controlling stake in soda producer Ciech for about PLN 875 million (about EUR 200 million) in 2014.

Serinus Energy, with a market cap of PLN 63 million, was down over three percent in Warsaw, awaiting trading on the Canadian floor.

Serinus is an international oil and gas exploration and production company dual listed on Warsaw Stock Exchange and Toronto Stock Exchange. Kulczyk had a majority stake in the company.

Meanwhile, Polenergia, a PLN 1.27 billion market cap company traded in Warsaw, was up over 4 percent in afternoon trading on 30 July.

Polenergia specialises in the development, implementation and management of electricity and heat generation projects.

Kulczyk also held a three percent stake (valued reportedly at PLN 7 billion) in the world’s second-largest brewer, SABMiller.

Kulczyk’s investment vehicle, Kulczyk Investments, is also involved in several oil and gas exploration and production companies in South America, Africa and Asia.

The tycoon also had shares in foreign firms including San Leon Energy, Neconde Energy Limited, Ophir Energy, Oil Ventures and Centar, an energy company based in Afghanistan.

In 2014 Jan Kulczyk passed on the role of CEO at Kulczyk Investments to his son, Sebastian. (jh/rk)