Poznańska Korporacja Budowlana Pekabex has concluded an investment agreement with Fundusz Ekspansji Zagranicznej, the Non-Public Assets Closed Investment Fund managed by PFR Towarzystwo Funduszy Inwestycyjnych (Towarzystwo Funduszy Inwestycyjnych) for a joint investment in a potential acquisition target for a total amount of EUR 12.25 million, the company said.
The agreement provides that Pekabex in cooperation with the fund will acquire a total of 100% of shares in a potential acquisition target for a total amount of EUR 12,250,000. The agreement provides that Pekabex will acquire 76% of the potential acquisition target for EUR 9,310,000, and the fund will acquire 24% of the potential acquisition target for EUR 2,940,000, it said.
“The purpose of the agreement is the joint implementation by the issuer and the fund of a project consisting in the development and maximization of the value of the potential acquisition target and its subsidiaries, and the achievement of profits from the investment. The Issuer, as a professional entity with knowledge of the prefabricated industry and construction projects, will be, among others, operationally managed the potential takeover target, and developed the competences of the potential takeover target, striving to build its position on the German market and maximize profits from the joint investment with the fund. The fund will act as a minority financial investor “- declared in a press-release.
The Pekabex Group is a leading manufacturer of prefabricated structures in Poland. It has factories in Gdańsk, Poznań, Warsaw and Bielsko-Biała. In Poland, it mainly implements contracts in the field of large-scale construction (e.g. production halls, warehouses, commercial facilities, stations, parking lots and office buildings) and engineering (e.g. bridges, tunnels). The exports mainly concern modular housing construction directed mainly to the Scandinavian countries. The company made its debut on the WSE main market in 2015.
