Thailand convenience-store chain CP All and three private equity funds are competing to buy Polish retail chain Zabka from Mid Europa Partners in a deal valued at up to €1.5 billion (US$1.59 billion).

Zabka’s sale comes at a time when some policies of the ruling conservative Law and Justice party in Poland are considered an investment risk, says Deal Street Asia. CP All, which runs 7-Eleven stores, is up against CVC Capital Partners, TPG and Hellman & Friedman. The deadline for binding offers is mid-February.

London-based private equity firm Mid Europa Partners, which focusses on central and eastern European investments, bought Zabka in 2011 for €400 million. Zabka, with 3400 stores, had sales of 5.75 billion zlotys (US$1.39 billion) in 2015.

In November, Mid Europa Partners bought Romanian supermarket chain Pro from Polish Enterprise Investors fund for €533 million.