Poland’s PKP Cargo has acquired an 80 per cent shareholding in Advanced World Transport (AWT).
The Polish logistics company has acquired a majority stake in AWT B.V, which is registered in the Netherlands, from Czech billionaire Zdeněk Bakala in a deal worth €103.2 million.
AWT operates international services to Slovakia, Slovenia, Hungary, Poland, Germany, Romania, Bulgaria and Croatia. AWT employs around 2,000 people and transported 12 million tonnes of cargo in 2013.
Kamil Čermák, chairman of the AWT board, said: “The PKP Cargo Group is one of the leading players on the European rail freight transport market. AWT will gain a strong strategic partner with both firms sharing not only linked rail networks but also shipping terminals that are advantageously positioned on continental transport routes.”
The transaction is expected to be finalised in the first half of 2015, subject to approval from regulators.
