PKP: PKP Cargo – the first in the history of Polish railways abroad … – Interia

1 hr. 31 minutes ago

Adam Purwin, CEO of PKP Cargo / Press Release

The value of the transaction amounted to 427.3 million zł. Thus, PKP Cargo significantly strengthens its strategic position in the region as an integrated logistics operator with a European dimension. Buying shares in AWT is one of the biggest foreign company acquisitions made by Polish company in recent years and the first in the history of this type of acquisition carried out by the PKP Group. It is also the second largest Polish investment company in the Czech Republic.

The signing of the agreement and the settlement agreed price of 103.2 million euros (427.3 million zł) is the culmination of the acquisition, which was to finalize the necessary approvals bodies antitrust in Poland, Germany, Slovakia and the Czech Republic. With the closing of the transaction PKP Cargo significantly strengthens its market position and growth potential in the transport corridor North-South.

– Investing in AWT is a breakthrough in our strategy of international expansion. The Czech Republic is the gateway to southern Europe. With the acquisition of AWT will be able to further leverage the strategic location Polish, Silesian, in particular, to the development of new routes and implementation of comprehensive logistics and transportation in the Baltic-Adriatic triangle of North Sea – says Adam Purwin, president of PKP Cargo. – We reaffirm our ability to exploit the potential of organizational and financial PKP Cargo. In addition, we are confident that our success will also be able to take advantage of other companies, especially industry. It is worth remembering that rail transport is an important part of our economy, and all indications are that his role will grow in the coming years – adds Adam Purwin.

– The history of the AWT is a success story. The company evolved from a local carrier to train a group of international ambitions. When the point of view of investment, AWT was in our opinion, ready to be put on sale, the interest of potential investors and the market response was very large. We decided to go PKP Cargo, the Polish national carrier, because the company is a reliable and strategic partner, which guarantees the long-term development AWT – says Zdeněk Bakala, a former owner of a majority stake in the AWT. – Going into the family of PKP Cargo, the second largest player in the market for rail freight in Europe, the Group achieved operating support AWT well managed company, access to financial resources and infrastructural facilities, thus gaining new possibilities of development – adds Zdeněk Bakala.

Following the closing of PKP Cargo achieved a surge in Chinese market share to 10 percent. This is important, given that the Czech Republic is the ninth-largest rail freight market in Europe. Here they intersect the main transport routes continent. The presence of PKP Cargo in this market means being able to attract new customers and ensures better service already conducted operations into the Czech Republic and further south in Europe. PKP Cargo also gets access to the terminal Ostrava-Paskov, which is located 60 km from the border with Slovakia and 25 km from the Polish border. It provides a gateway to important points on the map of Europe and a chance for an even more dynamic development of intermodal transport carried out by PKP Cargo.

As pointed out by Adam Purwin, the acquisition of AWT does not satisfy the appetite of PKP Cargo on the development of international activities. It will be implemented both through acquisitions and strategic alliances with other carriers. – We strive to build lasting business relationships and operations with partners from other markets in order to extend our route and reach the goods as far as possible. For this purpose, among others, we signed a strategic agreement with HŽ Cargo, national carrier in Croatia. We are looking for opportunities either through alliances or through acquisitions of other carriers in the triangle North Sea-Baltic-Adriatic – says Adam Purwin. – For me, it is also particularly important that PKP Cargo has high-quality professionals with experience who are able to conduct such a large and complex transactions. Paul Waksman from the Office of Strategy and Alexander Szymczak from the Office of the Legal and Organisational who have for many months been engaged in the acquisition of AWT, deserve congratulations – says Adam Purwin.

Details of transactions

Sellers of 80 percent. shares in Advanced World Transport Zdenek Bakala were and The Bakala Trust. Pursuant to the May 28 this year. PKP Cargo contracts acquired ownership of 60,000 shares in the share capital of the AWT, which entitles to exercise 80 percent. the total number of votes at the General Meeting of Shareholders. The remaining 20 percent. shareholding stake in the Czech company AWT has Minezit SE, which PKP Cargo signed a contract specifying in detail the relationships of shareholders (shareholders agreement). The agreement of December 2014 regulates the timetable for possible acquisition by PKP CARGO remaining shares in AWT.

AWT

The AWT Group is one of the largest private rail freight operators in Europe and the second largest carrier in the Czech Republic, with a nearly 10-percent market share in 2013 in terms of transport work. In 2013, the AWT Group transported 12 million tons of goods, transport work accomplished at the level of 1.54 billion ton-km and generated 282 million euros of revenue.

The AWT Group provides services in the Czech Republic, Slovakia, Slovenia, Hungary, Germany, Romania, Bulgaria, Polish and Croatian. Employing approx. 2.1 thousand. employees, the Group AWT supports a comprehensive large industrial plants in Central and Eastern Europe. He specializes in the transport of heavy and bulk goods, including coal, steel and automotive parts.

AWT Group manages an extensive rolling stock, including approx. 160 locomotives and over 5 thousand. wagons (including over 65 percent. treasury). It has a diversified portfolio of services – in addition to performing freight is also the operator of 60 railway sidings in the Czech Republic, a company providing train services (maintenance and rental cars) as well as a company specialized in construction work, reclamation and waste management.

The entrepreneur Zdenek Bakala was born in Opava in 1961. He grew up in Brno, at the age of 19 he moved to the United States. He studied at the University of California at Berkeley and Dartmouth College. He worked for Credit Suisse First Boston in New York, London and Prague.