After Anwil's majority owner PKN Orlen dug its heels in over the price, Zaklady Azotowe Pulawy (ZAP) has decided to up its bid to between zloty (Zl) 1.4bn-1.8bn ($417.9m-$537.3m, €340.6-€438.0m).
An improved offer increased the probability that ZAP could conclude a deal for Anwil before the negotiating deadline of 30 June at a price likely to fall somewhere, they added
Investment bank Wood & Company said the deal would offer ZAP diversification benefits, such as offering the company an opportunity to cut its reliance on nitrogen fertilizers from 60% to around 45% in terms of annual sales.
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An improved offer increased the probability that ZAP could conclude a deal for Anwil before the negotiating deadline of 30 June at a price likely to fall somewhere, they added
Investment bank Wood & Company said the deal would offer ZAP diversification benefits, such as offering the company an opportunity to cut its reliance on nitrogen fertilizers from 60% to around 45% in terms of annual sales.
Click here for the full ICIS news story
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