POLAND: CEDC completes Bialystok stake purchase

By just-drinks.com editorial team | 21 June 2007

Central European Distribution Corporation has announced that its wholly-owned subsidiary, Carey Agri, has completed the purchase of 1.06 million shares, or 8.92%, of Polmos Bialystok common stock listed on the Warsaw Stock Exchange.

The mandatory buy out was announced in Poland on 14 June, 2007 and the price at which CEDC acquired the shares is PLN 103 (US$36.52) per share.

William Carey, CEDC's CEO said: "We are pleased to have completed our objective of obtaining almost full ownership of Polmos Bialystok. This transaction represents the next step in the eventual delisting of Polmos Bialystok which we anticipate to complete during the 3rd quarter of 2007. We continue to see strong performance from the Polmos Bialystok operations and the brands that it produces and look forward to the positive impact on our results from this transaction."

Sectors: Spirits

Companies: CEDC