PKP CARGO obtained consent of the Czech anti-trust office for acquisition of 80% of shares of the Advanced World Transport. Thus, the last condition necessary to finalize the contract, under which the AWT will join the PKP CARGO Group, has been met. The transaction of a total value of EUR 103.2 million shall be completed within the upcoming weeks, upon signing of the applicable contract by the parties and payment of the agreed price by PKP CARGO.
PKP CARGO has previously obtained consents for acquisitions issued by the anti-trust offices in Poland, Germany and Slovakia. Obtaining the one from the Czech office was the last condition necessary to complete the transaction.
Purchasing of majority share in one of the largest private carriers in Europe will enhance the strategic position of PKP CARGO in the region and in particular increase the N-S transport corridor service capacity.
Upon completion of the transaction, PKP CARGO will record a hike in the Czech market share. This is the ninth largest rail freight market in Europe and crossing of the key transport routes of the continent. Stronger position of PKP CARGO on this market translates into opportunity to win the new clients and guarantees better service of already operated freight to Czech and to the south of Europe.