POLAND: Sobieski Bialystok talks deadline extended
The Polish Treasury Ministry has extended the period of its exclusive negotiations with Sobieski Dystrybucja. The company now has until Wednesday (8 June) to secure the purchase of the 61% stake in vodka maker Polmos Bialystok.
Sobieski Dystrybucja will need to demonstrate its ability to finance the purchase of the majority stake in Bialystok, as well as confirm that it can appropriately address publicly-voiced concerns of the employees and minority shareholder interest of Polmos Bialystok.
Last week, staff at Bialystok wrote to the Treasury Minister, saying that the fact that Sobieski already owns competing brands would lead to "brand cannibalism."
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