Takeover offer for PPWK rejected as insufficient

According to Puls Biznesu, the management of the largest domestic map producer PPWK, has received an offer for the takeover of the entire company. The offer, which was rejected, was made by an educational book publisher. "The offer was not good enough, as it would not lead to the restructuring of all the company's debts, which is the most important issue," said one of the PPWK supervisory board members. However, company president, Rafał Berliński, denied that such an offer had ever been made. It is widely known that the firm intends to sell the part of the company that has revenues amounting to zł. 7 million a year. The talks were conducted with publisher Nowa Era, but last week was the deadline for the banks to agree on the transaction. "It should all be settled within a week or two," said a person close to PPWK. The company was on the verge of bankruptcy last year and now needs to sell the above-mentioned division and its headquarters in Warsaw. (Puls Biznesu, pp. 1, 4) M.M.