Under a deal announced on October 16, PKP Cargo will acquire railfreight operators Orlen KolTrans and Euronaft Trzebinia from Orlen Group for Zlotys 250m. The two operators have a combined share of 2.5% of the Polish railfreight market, primarily focussing on oil and chemical traffic. PKP Cargo says the transaction will enable it to obtain a specialised fleet of nearly 700 tank wagons.
The acquisition, which is being funded through bank loans, includes a long-term agreement on the provision of logistics services for Orlen Group.
PKP Cargo also confirmed on November 16 that it has finalised loans with Gospodarstwa Krajowego Bank and Pekao Bank "on very favourable terms." The funds will be available until December 2016 and PKP Cargo says it cold use the loan to finance further acquisitions or new locomotives and rolling stock.
At the beginning of this year PKP Cargo acquired an 80% stake in Czech railfreight operator AWT and in February it purchased a 49% stake in Polish operator Pol-Miedź Trans.
