H. Bauer to purchase Twoj Styl after BRE loan recall

German publisher H. Bauer has purchased three magazine titles and the whole editorial staff of publishing company Interim, owner of Wydawnictwo Prasowe Twoj Styl. According to unofficial information reported by Gazeta Wyborcza, H. Bauer purchased the monthlies Twoj Styl, Votre Beaute and Filipinka. Interim accepted the offer due to BRE Bank's request last week that the publisher repay a $14 million loan no later than today. BRE claims that Interim breached terms of the loan agreement. The bank planned to take over Interim if the company did not repay the loan in time. "A white knight showed up," said the head of Interim, Przemyslaw Szmyt. "The company is saved. We will soon issue a public announcement." Szmyt did not confirm who purchased Twoj Styl. Gazeta Wyborcza estimates the value of the contract to be between $14 million and $30 million. Twoj Styl controls around 5.8% of the magazine advertising market. H. Bauer is the owner of 23 magazine titles in Poland alone. (Gazeta Wyborcza, p. 18) A.K.