Aleksander Gudzowaty mergers his two firms

APA - Austria Presse Agentur
28-09-2006, 15:52

Warsaw (Puls Biznesu) – At the end of this year Akwawit will acquire Wratislavia. The merged company will be listed under Brasco brand.

Warsaw (Puls Biznesu) – At the end of this year Akwawit will acquire Wratislavia. The merged company will be listed under Brasco brand.

 

The plan to merge the two companies owned by Bartimpex, the company of Aleksander Gudzowaty: Wratislavia and Akwawit is ready. The country’s two biggest producers of bioethanol added to fuel will merge at the end of this year. Both companies operate within Brasco group. Akwawit will acquire Wratislava and raise its capital by PLN 74m (EUR 18.6m). The company will issue 7.4m shares at PLN 10 each. Today, Akwawit capital amounts to PLN 40m and consists of 4m shares. Wratislavia has PLN 75.8m of capital.

 

The consolidation is supposed to cut costs and make the production more effective. Then, the merged companies will be listed.

“It is too early to say when it is going to happen”, Krzysztof Zyndul, Wratislavia CEO said.

In 2002, Aleksander Gudzowaty bought Akwawit for PLN 56m and Wratislavia for PLN 64.6m.

(PLN 1 = EUR 0.251)

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Podpis: APA - Austria Presse Agentur

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