Vistula and Bytom sign merger plan

WSE-listed fashion retailers Vistula and Bytom signed a merger plan, both companies announced. According to it, the share parity has been set at 0.82, meaning that for every Bytom share, its shareholders would receive 0.82 Vistula share. “Under the deal conditions, 60,658,220 Vistula shares valued at PLN 0.2 apiece will be exchanged for 73,973,330 Bytom shares worth PLN 1 each,” the statement said. The negotiation process between two companies started back in April. The deal is pending the antitrust watchdog UOKiK approval. 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.