Chemical Maker Police to Offer Shares to PGNiG

The Polish chemical maker Police will offer shares to settle unpaid bills from PGNiG, the country's gas monopoly, Police's new chief executive was quoted as saying on Tuesday.

"I will talk to PGNiG about obtaining Police shares in return for liabilities," business daily Parkiet quoted Krzysztof Jalosinski as saying. "This can also be a way of gaining an investor."

The paper estimated Police's unpaid gas bills at around 100 million zlotys ($35 million). PGNiG declined to comment.