Hortex's future may depend on unnamed investor as banks choose to opt out

Bank Handlowy (BHW) hopes to sell its 31% stake in the leading domestic non-alcoholic drinks producer Hortex. According to Jerzy Suchnicki from BHW's capital investment center, there should be a breakthrough in negotiations in about a month. This confirmed that the bank has been trying to leave Hortex. BHW president Cezary Stypulkowski said in March that their involvement with Hortex was based on debt conversion and not an investment decision. If BHW manages to sell its shares, then remaining investors such as the European Bank of Restructuring and Development and the Bank of America, which respectively own stakes of 22.9% and 37.7%, are also likely to desert Hortex. Suchnicki refused to name the potential investor only saying, "He is not a specialist in juice production, but is involved in the food sector." Hortex will soon face fierce competition to maintain its market position once Agros Fortuna and Sonda merge. The company needs to restructure, but now it will have to delay a bond issue, which means that its plans will have to be put on hold and may depend on the unknown investor. (Puls Biznesu, pp. 1, 6) M.M.