Vistuala&Wólczanka to take over Galeria Centrum?

Allegedly, the companies signed the letter of intent on Friday for the chain which is currently on the brink of profitability. Galeria Centrum owes several million złoty to NFI Empik Media & Fashion, which will translate to a cheaper purchase price for Vistuala&Wólczanka. The company is also preparing issue prospectus, with an expectation that it will be able to earn around zł.100 million. If it takes over Galeria Centrum, it will double its revenues as Galeria Centrum had almost zł. 200 million of revenues in 2005. The chain has some 13 branches in the biggest cities in Poland, with floor space totaling over 30,000 square meters. In comparison, Vistuala&Wólczanka has 180 shopfronts and several thousand square meters of floor space. (Parkiet, September 23-24, p.1) M.M.