OT Logistics adopted a resolution on a merger plan with its subsidiaries: OT Nieruchomości and OT Porty Morskie, the company said. The merger is the result of the implementation of the strategy assuming the consolidation of companies and simplification of the organizational structure of the OTL Group.
The merger will take place on the terms set out in the “Plan of merger of capital companies OT Logistics S.A., OT Nieruchomości sp. Z o.o. and OT Porty Morskie S.A.,” it was stated.
The merger of the companies will take place (…) by transferring all assets of the acquired companies to the acquiring company (merger of companies by acquisition). The acquiring company holds 100% of shares in each of the acquired companies, therefore the merger will be carried out without increasing the share capital of the acquiring company, it was announced.
The subject of activity of OT Nieruchomości is property management of the capital group (OTL Group). OT Porty Morskie is involved in the conduct and management of planned investments in the field of activities in seaports.
The merger of the companies is an element of the consistently implemented strategy of consolidating the companies of the OTL Group and simplifying the organizational structure of the OTL Group. In the consolidation process, the companies C. Hartwig Gdynia SA and Sealand Logistics sp. Z oo, OT Logistics SA and Rentrans International Spedition sp. z o. o. and the companies OT Logistics SA and OT Port Wrocław sp. z oo, Żegluga Bydgoska sp. z oo, Odra Rhen Loyd sp. z o. separate entities with a limited scale of operations. The merger will bring further savings and eliminate unnecessary financial flows. The planned merger will not involve additional costs of integrating the companies.
The condition for the merger with the company OT Nieruchomości (OTN) was the possession by OT Logistics of 100% shares in this company. Therefore, the management board of OT Logistics purchased from C. Hartwig Gdynia all shares in the share capital of OTN. As a result of the above action, OTL became the sole shareholder of OTN as of August 31, 2021, completed.
The OT Logistics Group provides transport, forwarding and logistics services in Poland and Central and Western Europe. The company debuted on the main market of the WSE in July 2013. Its consolidated sales revenues reached PLN 853.36 million in 2020.
Source: OT Logistics and ISBnews
