Bankrupt Pozmeat meat producer may be sold to several firms

APA - Austria Presse Agentur
opublikowano: 26-10-2005, 15:26

Warsaw (Puls Biznesu) Modern meat plant Pozmeat launched in April 2000, which went bankrupt several months ago, may finally find investors. After three failed trials to sell the assets, investors have appeared ready to buy parts of the company. On October 19th, another deadline to submit offers passed.

Warsaw (Puls Biznesu) Modern meat plant Pozmeat launched in April 2000, which went bankrupt several months ago, may finally find investors. After three failed trials to sell the assets, investors have appeared ready to buy parts of the company. On October 19th, another deadline to submit offers passed.

No buy offer has been submitted, Jan Kanecki, Pozmeat bankruptcy officer said.

The tender, was not a total failure, however.

We have received a letter from a group of companies interested in different parts of the assets. Owners of several meat plants from Wielkopolska and Dolny Slask regions are ready to buy production unit and the brand while a big German meat company will buy slaughter house, Jan Kanecki added.

He refused to publish the identity of those investors.

Now, another tender must be announced. The bankruptcy officer is going to propose new conditions of the transaction in the court Pozmeats assets must be divided. However, investors who would like to buy the whole company, may still take a try. This is going to be the third tender this year, and the fourth trial to sell the bankrupt company. Its assets are estimated at PLN 84m (EUR 21.3m). Pozmeat was a listed company till March 2005. It stopped production at the end of 2004 because of huge debts of PLN 100m. One of the main reasons for its bankruptcy was a clash between Pozmeat?s shareholders.

(PLN 1 = EUR 0.254)

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Podpis: APA - Austria Presse Agentur

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