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POLAND: Bialystok decision expected today

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A final decision on the fate of the majority stake in Polmos Bialystok is expected some time today. Central European Distribution Corporation (CEDC) said on Friday (17 June) that it has completed its non-exclusive negotiations with the Polish Treasury Ministry with respect to an agreement to purchase the 61% stake in the vodka company. According to a statement by the Minister of State Treasury, quoted by the Polish Press Agency, the decision will be taken by the Polish Treasury today at the latest.

In a statement, William Carey, president and CEO, said: "We had fruitful discussions this week and are confident that CEDC will be a very good investor for Polmos Bialystok, if selected. We are looking forward to the Minister's decision and would be ready to finalise, subject to anti-trust approval, the transaction, including agreeing a fair and equitable social package with Polmos's workforce."

Separately, CEDC also clarified plans to offer and sell approximately €200m Senior Notes due 2012 during July 2005 for the purposes of funding the acquisition of Bols Sp. z o.o. and, partly, the potential acquisition of 61% of the capital stock of Polmos Bialystok, if CEDC is selected acquire the shares.


Sectors: Spirits

Companies: Lucas Bols

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