CEDC gets conditional go ahead for PB takeover

The investor will pay zl.1.06 billion for the whole packet of shares. However, after the takeover Carey Agri, which bought Bols, another vodka producer, in August 2005, will own two of the three largest vodka producers in the country. Therefore, UOKiK has attached several conditions to the deal. Carey Agri may take over the company if between 2005 and 2008 it will not distribute more than 65% of Polmos Bialystok and Bols' production through its sales network, which means that at least 35% of its products will be sold by independent distributors. This condition in particular refers to the following vodka brands: Bols, Soplica, Absolwent and Zubrówka, but it does not apply to sales for export and to alcohols other than vodka. "Given the fact that currently we distribute around 30-35% of Polmos Bia³ystok and Bols sales, the 65% limit is not a difficulty in the implementation of our business plan," said CEDC president William Carey. He also added that he expected the transaction to be completed next week. (Parkiet, p. 5) E.B.