Polish LC Corp hires J.P. Morgan to review strategic options

WARSAW, Oct (HKSE: 3366-OL.HK - news) 10 (Reuters) - Polish real estate developer LC Corp has hired J.P. Morgan (Other OTC: MGHL - news) to review its strategic options, which include finding a new strategic investor for the company, it said late on Friday.

"At this stage all options are under review, including maintaining the current ownership structure, as well as finding a new strategic investor - from the sector or a financial one," the LC Corp (LSE: 0LVI.L - news) said.

The company is 51.3-percent owned by Polish billionaire Leszek Czarnecki, who also controls Warsaw-listed financial group Getin Holding and Getin Noble Bank. The market values his LC Corp stake at 453 million zlotys ($122 million).

Other LC Corp shareholders include local pension funds run by Aviva (Other OTC: AIVAF - news) , ING, and PZU.

Media reports have mentioned Czarnecki as one of the potential bidders for the 2.8-billion zloty Polish lender Bank BPH, which has been put up for sale by General Electric. Czarnecki has not commented on this.

($1 = 3.7130 zlotys) (Reporting by Adrian Krajewski; Editing by Pravin Char)