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PKP CARGO to complete acquisition of AWT in coming weeks

PKP CARGO to complete acquisition of AWT in coming weeksPKP CARGO’s acquisition of 80% shares of Advanced World Transport will be completed in following weeks. PKP Crago has obtained the consent of the Czech anti-trust office, the last condition the necessary to finalize the EUR 103.2 million contract. PKP CARGO has previously obtained consents for acquisitions issued by the anti-trust offices in Poland, Germany and Slovakia.

Purchasing of majority share in one of the largest private carriers in Europe will enhance the strategic position of PKP CARGO in the region and in particular increase the N-S transport corridor service capacity.

Upon completion of the transaction, PKP CARGO will record a hike in the Czech market share. This is the ninth largest rail freight market in Europe and crossing of the key transport routes of the continent. Stronger position of PKP CARGO on this market translates into opportunity to win the new clients and guarantees better service of already operated freight to Czech and to the south of Europe.

The sellers of 80% of AWT shares are Mr. Zdenek Bakala and The Bakala Trust fund, owned by him. The remaining 20% of shares in the AWT shareholder structure are owned by the Czech Minezit SE company, with which the PKP CARGO entered into the shareholder agreement, regulating in details the mutual relations between the partners. The agreement of December 2014 regulates also the schedule of possible purchase of the remaining AWT shares by PKP  CARGO.

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