This report is prepared for the Warsaw Stock Exchange SA within the framework of the Analytical Coverage Support Program 3.0.
Event: Preliminary conditional agreement to purchase shares in Olavion.
The Company signed a preliminary conditional agreement to purchase 100% of shares of Olavion. According to the agreement two deals are to be signed. The first will concern the purchase of 90% of shares of Olavion from 2 individuals, while the second agreement will concern the purchase of the remaining 10% from the management of Olavion. The agreements will be valid depending on several conditions, including the securing of a green light for the merger from UOKiK, the signing of a long term transport deal between Olavion and Unimot Paliwa, the shares of Olavion are not negatively burdened by additional debt and if nothing negative happens to Olavion financial condition. The conditions are to be met before June 30th 2023. Additional conditions concern the current management of Olavion: management is to remain in Olavion and it is required to conduct financial reports for 2023 and 2025. The purchase of the 10% of Olavion shares is to be executed not later than July 7th, 2025.
Expected impact: Neutral. The preliminary agreement was previously announced and it was surely expected.
Analyst: Åukasz Prokopiuk
GPW’s Analytical Coverage Support Programme 3.0
