Vistula hopes to iron out Bytom merger details within 2 weeks

Fashion retailer Vistula said that it plans to complete the merger talks with its competitor Bytom within two weeks. Vistula plans to set the share parity in the pending merger at 0.82, meaning that for every Bytom share, its shareholders would receive 0.82 Vistula share. 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.