CUBE Sp. z o.o signed a preliminary agreement to acquire Hotel Mercure Torun Centrum from Orbis Spólka Akcyjna (WSE:ORB) for PLN 18 million on August 30, 2017. As of September 30, 2017, CUBE Sp. z o.o signed final sale agreement to acquire Hotel Mercure Torun Centrum from Orbis Spólka Akcyjna. As per the terms of the final sale agreement, CUBE paid PLN 3.6 million before the execution of the final sale agreement and the remaining price being PLN 14.4 million will be paid not later than within a time limit of 5 business days from the execution of the final sale agreement. In a related transaction, CUBE Sp. z o.o signed a preliminary agreement to acquire Hotel Ibis Budget Torun and a Torun-based immovable property from Orbis Spólka Akcyjna for PLN 11 million on August 30, 2017. Final agreement regarding the acquisition of Hotel Mercure Torun Centrum shall be concluded until September 30, 2017. The payment of the sale price would be made after conclusion of the final sale agreement with the exception of PLN 1.8 million paid by CUBE as an earnest payment for acquisition. The signing of final sale agreements is subject to the consent of Orbis's shareholders. After the completion of the transaction, Hotel Mercure Torun Centrum will operate under its own brand. CUBE Sp. z o.o completed the acquisition of Hotel Mercure Torun Centrum from Orbis Spólka Akcyjna (WSE:ORB) on September 30, 2017.