Vistula and Bytom agree on merger

Management boards of fashion retailers Vistula and Bytom came to agreement on the terms of the merger between two companies. Bytom will transfer its assets to Vistula in exchange for the latter shares. Now the companies will choose a joint advisor for the process, and work out the details of the transaction. The negotiation process started back in April. Both companies are listed on the Warsaw Stock Exchange. In 2016, Vistula had PLN 35.2 million net profit, while its peer Bytom had PLN 12.4 million in net profits. Vistula is worth some PLN 570 million, according to its share price, while Bytom capitalization is at some PLN 194 million.