Grodno Spólka Akcyjna (WSE:GRN) signed a preliminary agreement to acquire Magma Sp Z O O for PLN 20 million on December 17, 2018. Grodno Spólka Akcyjna (WSE:GRN) signed an agreement to acquire Magma Sp Z O O from two individuals for PLN 20 million on December 27, 2018. Pursuant to the terms of the transaction, Grodno Spólka Akcyjna will pay the consideration in three installments, with PLN 16 million to be paid when the final agreement is signed and the remainder after 12 and 24 months, subject to adjustments regarding Magma Sp Z O O's FY2018 EBITDA. The transaction will be financed through an acquisition loan of PLN 16 million obtained by Grodno Spólka Akcyjna from consortium of bank Millennium SA and Credit Agricole Bank Polska SA. For the year 2017, Magma Sp Z O O reported an EBITDA of PLN 5 million.