BGZ wants other shareholders to buy its 30% of Hortex

Bank Gospodarki Zywnosciowej (BGZ) is hoping to finalize talks soon on the sale of its 30% stake in leading food processor Hortex. According to Robert Pydzik, vice president of BGZ, the sale is a way of improving Hortex's financial condition. But if none of the other shareholders, Bank Handlowy, Bank of America, or the European Bank for Reconstruction and Development (EBRD), agrees on the purchase, the company will go bankrupt. "We are selling the shares because BGZ is not an investment bank. However, we are very concerned about the good condition of Hortex," said Pydzik in an interview with Puls Biznesu. (Puls Biznesu, p. 8) P.W.