News

POLAND: CEDC to pay US$317m for Bialystok stake

Most popular

Why single malt should ignore its core consumer

Everywhere is now a drinking occasion - Trends

Canada blazes a trail for cannabis beverages

How young consumers are transforming brands

How DNA testing will shape the future of drinking

MORE

Central European Distribution Corp. will pay around US$317m for the majority stake in Polmos Bialystok it secured earlier this week. In documents accompanying a forthcoming bond issue, the US distributor yesterday (6 July) announced the figure it will pay the Polish Treasury.

Reuters said yesterday that the Treasury Ministry had earlier signalled that it was expecting to receive at least PLN770m (US$206m) from the sale of the 61% stake. The remaining 39% was issued in an IPO in May.

CEDC was awarded the chance to buy the majority holding on Monday after agreeing terms with Bialystok's unions, giving them 10-year job guarantees and one-off privatisation bonuses equating to around 10 monthly salaries for workers, Reuters added.

The company will finance the purchase through a seven-year, €300m-denominated Eurobond.


Sectors: Spirits

Related Content

US: Foster's silent on staff bonus claim

US: Foster's silent on staff bonus claim...

Sweet Reason Beverage Co’s Lemon Rhubarb CBD-infused sparkling water - Product Launch

Sweet Reason Beverage Co’s Lemon Rhubarb CBD-infused sparkling water - Product Launch...

Trip’s CBD-infused drinks range - Product Launch

Trip’s CBD-infused drinks range - Product Launch...

Humble Warrior’s plant-based sparkling drinks - Product Launch

Humble Warrior’s plant-based sparkling drinks - Product Launch...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?