Central European Distribution Buys Bialystok Shares

Central European Distribution Co. (CEDC), a Polish wine and spirits distributor, today started a mandatory call for 1,061,800 shares of Polmos Bialystok SA, offering 103 zloty ($36) a share.

Bala Cynwyd, Pennsylvania-based Central European Distribution currently owns 91 percent of the Polish vodka maker and will pay 109 million zloty for an 8.92 percent stake. The remaining 0.08 percent is held by the Polish government and Polmos Bialystok management, the Bialystok, northern Poland-based company said in a regulatory statement today.

The Warsaw Stock Exchange suspended trading of Bialystok shares as of today, it said in an e-mailed statement.

The shares gained 0.3 percent yesterday to 101.5 zloty, valuing Polmos Bialystok at 1.21 billion zloty.

To contact the reporter on this story: Katarzyna Klimasinska in Warsaw at kklimasinska@bloomberg.net

To contact the editor responsible for this story: Malcolm Fried at mfried@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.