Empik Media & Fashion to be taken over by Cyprus firm

Empik Media & Fashion (EMF), a group that includes Poland’s leading retailer of books, press, music, films, and games, is set to be taken over by Cyprus-based Bookzz Holdings following a general shareholders’ meeting on October 26. “The goal of the cross-border merger of the company with Bookzz Holdings is the simplification of the structure of the capital group to which EMF belongs, as well as optimalization of costs associated with this following the sale by EMF of the majority of its managed assets, and as a result making the function of EMF redundant,” the company stated. Under the plan, all assets of Empik Media & Fashion will be transferred to Bookzz Holdings. The Cypriot company will take over full responsibility for the employees and debts of the Polish company.