UPS a step away from acquiring Stolica

The shares in the Warsaw-based company have already been bought by UPS from all the previous shareholders - Enterprise Investors (EI) (over 42% of shares) and three individuals Jan Tkaczow, Janusz Niedźwiedzki and Piotr Wasilewski, who each have 19.13% stakes. The terms of the transactions were not revealed and it is unknown how much UPS paid for the company. In March 2001 EI invested zł.10.5 million in Stolica. The new investor hopes to finalize the purchase by the end of Q2. "This is a perfect deal for UPS, taking into account strategic as well as operational reasons. Stolica's network will allow us to quickly service parcels entering and leaving Poland, as well as to deliver parcels within the country," said Wolfgang Flick, UPS president in Europe. (Puls Biznesu, p. 5) A.K.