The BMM Group, which manages Zdenek and Michaela Bakalas’s Czech assets, has agreed with the other shareholders at the end of the year to sell an 80% stake in Advanced World Transport (AWT) to PKP Cargo, the largest Polish railway cargo carrier.
Kocian Solc Balastik advised the BMM Group on the deal, which is expected to be completed in the first half of 2015 following regulatory approval. PKP Cargo was advised by Weil. The remaining stake continues to be held by Minezit SE, controlled by Rene Holecek, which with KSB’s assistance entered into a shareholder agreement with PKP Cargo.
According to the AWT Group’s website, the group: "is the largest private provider of rail freight services in Europe. It provides comprehensive solutions mainly to large industrial companies in Central and Eastern Europe, primarily transporting commodities such as coal and steel, and components for the automobile industry. AWT has an extensive fleet of rolling stock, with more than 160 locomotives and 5,100 freight wagons. In the Czech Republic, it owns the rapidly growing Ostrava-Paskov combined transport terminal, operates more than 60 rail sidings and owns over 400km of track. It employs more than 2,000 people and has annual revenues of almost EUR 300 million."
Image source: Lukas Rebec / Shutterstock.com
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