Jastrzebska Spólka Weglowa S.A. completed the acquisition of 95.01% stake in Kopex - PBSZ SA from Primetech S.A..
The offer is conditional and depends upon factors such as transaction value, formal and legal aspects. As of July 17, 2018, the deal is subject to a number of conditions including striking satisfactory agreements with Kopex - PBSZ SA's clients and trade unions, securing consent of Jastrzebska Spólka Weglowa Spólka Akcyjna's bond holders as well as corporate and antitrust approvals. As of December 21, 2018, the transaction is conditional upon regulator's consent, on corporate consents and on reaching agreement on technicalities of the deal. As of January 15, 2019, Poland's Office of Competition and Consumer Protection (UOKIK) has approved the acquisition. As of February 15, 2019, the Supervisory Board of Jastrzebska Spólka Weglowa Spólka Akcyjna approved the transaction. As of April 3, 2019, the shareholders of Jastrzebska Spólka Weglowa approved the acquisition of Kopex - PBSZ SA. The transaction is expected to be completed within 3 months following the signing of the term sheet. As of May 10, 2019, the transaction is expected to complete on May 20, 2019. The whole proceeds will be used by Primetech S.A. to pay back loans and free Kopex - PBSZ SA's shares and assets from collaterals.
Jastrzebska Spólka Weglowa S.A. (WSE:JSW) completed the acquisition of 95.01% stake in Kopex - PBSZ SA from Primetech S.A. (WSE:PTH) on May 20, 2019. Of the total PLN 204 million, PLN 199 million was paid upon the day of closing while the remaining PLN 5 million will be settled after 3 months following the transaction.