Polish cooperative bank Podkarpacki Bank Spoldzielczy is investing PlZ1.66m (US$457.5m) in Sanok-based meat producer Beef-San.
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The move gives PBS a 35% stake in the meat producer. The remaining shares of the company’s €2m rights issue will be purchased by private investors linked to Beef-San and by the meat processor Zaklady Miesne Myslaw, reported the Polish News Digest.
The cash generated by the rights issue will go on debt repayment.
