Agros Fortuna and Sonda merger completed

Agros' capital was increased by zł. 157 million, through a share issue which was taken over by Sonda. The new venture, in which Polish Enterprise Fund IV (controlled by Enterprise Investors) has a 56.4% stake was named Agros Nova. "In three to four years EI, will want to withdraw from the investment and the most probable way the company is going to achieve this is by selling its shares on the Warsaw Stock Exchange," said Robert Niewiadomski, the president of Agros Nova. Before the company will be floated on the stock exchange, it plans to invest in new machinery, research and development. However, company representatives did not want to reveal the exact amount of funds needed for investment. The merger led to staff cuts from 2,200 to 1,400 people, and currently the company aims at increasing its market share from the current 17.1% to 26%, therefore catching up with its main competitor, Maspex. (Puls biznesu, p. 8; parkiet, p. 4) A.K.