Polish Firm ZA Tarnów in Rights Issue to Help Finance Acquisition of ZCh Police

ZATarnów (ZAT; Tarnów, Poland) says it plans to raise more than zl 602 million ($221 million) from a rights issue to help pay for a planned acquisition of ZCh Police (Police, Poland).  ZAT, which last month announced that it intends to buy 66% of Police, said in a statement today that it would price an issue of almost 25 million shares at zl 24.1 each. The merger of the two firms will create a large chemicals enterprise in Europe able to compete on global markets, the companies say. ZAT, one of Poland’s largest chemical companies, is a...

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