Alior wants to buy the Movement wobbling over the precipice. And sell it right away
Alior Bank concluded an agreement with PZU and PKN Orlen regarding the takeover of the Movement. The contract is very simple in its construction - the bank first takes over 100%. shares of Ruch, and then sells them to Orlen.
Movement is a colossus on clay legs. The network is indebted to the ears and is still waiting for the verdict from the creditors, but the scale of its activity stimulates the imagination and gives quite a lot of possibilities.
What does the Movement need for Orlen, however?
Recently, Daniel Orlen president Daniel Obajtek explained on Twitter. It turned out that due diligence carried out by his company showed "synergy between the business model of the Movement, based on the distribution of the press, and the retail segment of PKN Orlen."
https://twitter.com/DanielObajtek/status/1116235697210429440
The fact that gas stations earn more today on the sale of snacks, hot dogs or coffees than on fuel alone is basically no secret. Orlen is looking for a network through which he could develop his non-stop activities. At Movement points, he would like to sell the products of his brand O! and newspapers.
Additional investments may be needed for this purpose. Quite recently, Puls Biznesu , citing Orlen's analysis, wrote that the Ruch press rooms are too small. In order for Orlen to introduce its products to them and take full advantage of the potential, they should have at least 50 sq m.
Along the way, the network is to be taken over by Alior.
Orlen does not want to financially support the Movement until it is a private entity (at the moment it belongs to the Dutch company Lurena Investments). And Alior , whose shareholder is PZU's State Treasury, is a completely different story.
The traffic currently has 1.8 thousand. points of sale throughout Poland, 13 logistic centers and a central warehouse. The network is indebted for PLN 162 million, and the value of its assets is estimated at PLN 80 million. The creditors' meeting will be held on Monday, April 15.
The movement proposes that companies that are guilty of at least one million zlotys should give up 80 percent. receivables. In the case of min. 100,000 - half of the debt. If too many of the creditors do not agree to such a deal, the Movement will probably go bankrupt, because Orlen may resign from the takeover.
Alior wants to buy the Movement wobbling over the precipice. And sell it right away
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