Budimex and Apricot Capital Group have applied to the Office of Competition and Consumer Protection (UOKiK) for permission to form a joint venture, the Office said. The joint venture aims to implement an investment project, the construction of a residential complex in Poznań and the sale of flats.
The application was received by the Office on 27 February this year. The case is pending, it was stated.
The notified concentration concerns the establishment of a joint venture […] by Budimex SA and Apricot Capital Group Sp. z o.o.. The concentration is to be implemented through the sale of a minority stake in Budimex D Sp. z o.o., based in Warsaw (SPV), to Apricot Capital Group Sp. z o.o., based in Warsaw, the company announced.
The joint venture aims to implement an investment project involving the construction of a residential complex on a property located in Poznań and the sale of flats. The companies have cooperated many times in the past in the implementation of residential investments, with Budimex SA only in the role of general contractor, the company further announced.
Apricot Capital Group is a company operating in the real estate private equity sector, dealing, among others, with the acquisition, construction, development of sales strategies and management of real estate on the Polish market.
Source: Budimex, ISBnews
