Próchnik backs out of DCG take-over deal as it decides to expand its own chain

Funds obtained from selling new shares will now be spent on expanding its own network of retail outlets. "We do not want to overinvest. We cannot pay more than we offered," said Mikołaj Habit, deputy president of Próchnik. According to information and calculations from Parkiet, the maximum offer for the clothing company did not exceed zł.15 million. The company will soon issue new shares worth zł.22 million. "With these funds we will create the same network as the one owned by Deni Cler. However, we will not take over the brand, which was our objective in this case," said Habit. Próchnik will turn to shopping malls with a 'wholesale' offer for acquiring commercial space, which should help the company achieve discounts. (Parkiet, p. 4) M.M.