Akwawit to swallow Wratislavia in upcoming merger

The two companies are controlled by Bartimpex and both currently operate within the bioethanol group Brasco, headed by former Treasury Minister Wieslaw Kaczmarek. It has also been revealed that it will be Akwawit which will take over Wratislavia. "This direction of consolidation has been approved by economic analysis, but most of all, Akwawit's experience in the production of rectificates," said Wratislavia president, Krzysztof Zyndul. The merger will be achieved by increasing Akwawit's capital by zl.74 million via the issue of 7.4 million shares. The consolidation is expected to lower costs and optimize production so that the company can be successfully floated on the Warsaw Stock Exchange. Although "It is still too early to say when this will happen," according to Zyndul. (Puls Biznesu, p. 8) A.K.