PKP Cargo eyes foreign acquisitions
July 9, 2014
Logistics firm PKP Cargo is seeking acquisition opportunities abroad and may issue bonds in order to finance takeovers, PKP Cargo CEO Adam Purwin told reporters on Tuesday.
"We want to develop abroad: we are participating in several acquisition projects, which are at various stages," the CEO said, refusing to disclose details due to confidentiality agreements. "We want to play an active role in the consolidation of the railway cargo sector."
PKP Cargo may issue bonds, including EUR-denominated bonds, in order to finance potential transactions, the official said.
"We may use bank loans [but] we are also seriously considering a bond issue," Purwin said. "This may happen in case acquisition projects are carried out. Due to the scale of a potential issue, we may mull eurobonds."
PKP Cargo wants to use leverage as it is a company "practically without debt," the official said.