belvedere : l'annonce CEDC sur son site

par mareva , Barjac, mardi 12 juillet 2005, 14:58 (il y a 7056 jours)

July 11, 2005
CEDC Announces It Has Signed Share Purchase Agreement With Polish Treasury Ministry to Acquire 61% of Polmos Bialystok

Bala Cynwyd, Pennsylvania: Central European Distribution Corporation, announced today that it has signed a share purchase agreement with the Polish Treasury Ministry to purchase 61% of the outstanding capital stock of Polmos Bialystok S.A., Poland's second largest producer of vodka, for a total purchase price of PLN 1.06 billion (approximately $312 million based on current exchange rate). The share purchase will be completed upon receipt of approvals from the Polish anti- monopoly office and the Polish securities and stock exchange commission. The acquisition is expected to close in the third quarter of 2005.

We are currently arranging financing for the purchase price of the Polmos Bialystok shares. As provided for in the share purchase agreement, we deposited today PLN 100 million (approximately $29 million based on current exchange rate). This deposit will be credited towards the total purchase price or will be returned to us if the transaction has not closed during the next six months for reasons which are not attributable to us. In addition, in the share purchase agreement we agree that Polmos Bialystok will make certain investments consistent with its on-going business needs, including the construction of a spirits rectification unit.

William Carey, Chairman and CEO, said, "We are very pleased that after 2 years of working towards the finalization of the privatization of Polmos Bialystok, we have reached this important milestone with the Polish Treasury. We have also submitted the application last week to the Polish anti-monopoly office for approval, a process that takes approximately 60 days. We still look to close this transaction during the 3rd quarter of this year, subject to anti-monopoly office approval.

"With the closing of this acquisition, CEDC will control the number one vodka brand in Poland, Absolwent, as well as owning the Zubrowka trademark, one of the top 10 best selling domestic vodka brands and one of the fastest growing export brands. We look forward to working with existing Polmos Bialystok senior management to continue to expand the development of Polmos Bialystok's product portfolio domestically as well as internationally."

CEDC is one of the leading importers of beers, wines and spirits, as well as the largest distributor of domestic vodka on a nationwide basis, in Poland. CEDC operates 14 distribution centers and 86 satellite branches throughout Poland. It distributes many of the world's leading brands in Poland, including brands such as Johnnie Walker Scotch, Stock Brandy, Sutter Home, Torres, Mondavi and Concha y Toro wines, Corona, Foster's, Grolsch, Budweiser Budvar and Guinness Stout beers.

Contact:
Jim Archbold,
Investor Relations Officer
Central European Distribution Corporation
610-660-7817

This press release contains

--
mareva