20 April 2007 - On 16 April 2007, FLEXNEWS reported that Czech beverage firm Kofola acquired Polish soft drinks maker Hellena SA for 17.2 million zloty (4.5 million euro). Kofola was the only bidder for Hellena, which is facing bankruptcy.
However, a district court in Kalisz, Poland, has cancelled the sale of Hellena, reports the Prague press yesterday.
The reason for the refusal was the low price offered by Kofola. There is no possibility of an appeal against the court's decision, adds the press.
"We have been shocked by the latest decision. The court at first accepted our bid, and when that decision was about to take effect, the court cancelled it," Kofola told the press.
Kofola produces and supplies soft drinks in central Europe. Besides the Czech Republic, the company also operates in Slovakia, Poland, and Hungary. The company’s 2005 consolidated revenues exceeded CZK 2.8 bln (about 99 million euro). The firm currently has a workforce of over 1,000.