POLAND: CEDC bids for more Bialystok shares
Central European Distribution Corporation has made a bid for the remaining shares in Polish distiller Polmos Bialystok.
The US-based group, which through a slew of acquisitions has become the Poland's leading vodka producer, is looking to up its stake in Polmos Bialystok after it bought took control of the company last year.
CEDC's offer for the stake prices the 4m shares at PLN85.25 (US$27.50) each. Under Polish law, the company must bid for the entire trance, although Polmos Bialystok employees own around 800,000 shares, a block that will remain under their control until at least next May.
CEDC produces the Absolwent, Zubrowka, Bols and Soplica brands and is also the leading distributor and the leading importer of alcoholic beverages in Poland and Hungary.
The company handles brands including Sauza Tequila, Concha y Toro wines, and Foster's lager.
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