Mennica Tower, a subsidiary of Mennica Polska, agreed the boundary conditions for the purchase of the remaining 50% of shares in the special purpose vehicle Mennica Towers GGH MT, which is the direct owner of the Mennica Legacy Tower investment in Warsaw and decided to re-join negotiations, the MMennica said. Mennica Tower has signed a letter of intent with the seller, according to which it will start a legal, technical and financial examination of the SPV in the coming days, and the parties will start negotiating the terms of the potential transaction.
“The decision to conduct a potential transaction depends on obtaining satisfactory results of the above-mentioned negotiations and the results of due diligence. As a result of the potential transaction, the issuer’s capital group would become the owner of 100% of shares in the share capital of SPV. The terms of the potential transaction will be announced by the issuer to the public after their binding agreement by the parties after conducting the negotiations “- we read in the press release.
Previously, the Mennica conducted negotiations on this issue in November 2020 and ended them in the face of “fundamental discrepancies in the negotiated terms of a potential transaction”.
The Mennica Legacy Tower, which is a joint investment of Golub GetHouse and Mennica Polska, received in November last year. valid use permit.
The Mennica of Poland, recognized as one of the most technologically advanced mints in the world, is a leading producer of coins and numismatics in Poland and Europe. It is also the only producer of investment gold bars in Poland and a leader in the implementation, service and development of city card systems. Moreover, it carries out development investments in Warsaw. The company has been listed on the WSE since 1998.
Source: IBSnews
