Polmos Lublin to be acquired by U.S. OCM private equity fund

(Paweł Kubisiak)
06-10-2006, 14:23

Warsaw (Puls Biznesu) – One of Poland’s biggest alcohol producers will have a new owner. This time the antimonopoly authorities will probably have nothing against the transaction.

Warsaw (Puls Biznesu) – One of Poland’s biggest alcohol producers will have a new owner. This time the antimonopoly authorities will probably have nothing against the transaction.

 

Oaktree Capital Management (OCM), a U.S. private equity fund with headquarters in Los Angeles, signed agreement to buy 100 percent of Jablonna, the owner of 40.86 percent stake in Polmos Lublin.

“It is a very big transaction and a challenge for us. We usually invest for three-five years. It will be so this time as well”, Justin Bickle, OCM deputy CEO said.

Then, the fund is going to sell Polmos. OCM announced a tender offer to buy all Polmos shares at PLN 52 (EUR 13.2) a share. The company may be withdrawn from the Warsaw Stock Exchange.

 

Before, the U.S. Central European Distribution Corporation (CEDC), the owner of Bols and Polmos Bialystok, was interested in Polmos Lublin which has 9.5 percent of the Polish market. However, the competition authorities UOKiK did not allow for this transaction. OCM must also receive the approval of UOKiK.

“I do not expect their objection because we do not have similar projects in the region. In Poland, we have Zielona Budka ice cream producer and package production plant Nordenia. In the world, we have theaters and movies networks, energy, fuel and ships assets, we also invest in the telecommunication sector”, Justin Bickle explained.

The new owner of Polmos Lublin and the management say that strategy of the company will change. The company is going to invest and dividend will not be paid out.

(PLN 1 = EUR 0.254

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Podpis: (Paweł Kubisiak)

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