As a result of the acquisition of 23% of Sento shares by companies from the Dom Development capital group, the company gained full control over Sento and its capital group companies, Dom Development said. The total value of the transaction is PLN 9.45 million.
As a result of the transaction, the options for the company’s shares, about which the company informed in the current report No. 24/2021 of July 1, 2021, expired, according to the company announcement.
On July 1, 2021, Dom Development concluded an agreement with Reno to acquire 77% of shares in the Krakow developer Sento for PLN 35.38 million. The remaining 23% of Sento shares were controlled by the company’s management. As reported then, Dom Development has a pre-emptive right to the remaining shares, and after 7 years from the transaction date, put and call options (sell and buy) for the remaining shares will become active.
Sento focuses on activities in the segment of high-standard apartments and flats. Dom Development is a residential developer listed on the Warsaw Stock Exchange since 2006. In 2021, it sold 4,066 apartments.
Source: Dom Development and ISBNews
