25.05.2021
In accordance with the agreement concluded on 22 February 2021, on 24 May 2021 the title to the Shares of Budimex Nieruchomości was transferred to CP Developer S.àr.l. Luxembourg.
The agreed value of the transaction amounted to PLN 1 billion 513 million. The buyer is CP Developer S.àr.l. – a company established for the purpose of concluding an agreement by entities related to the company: Cornerstone Partners sp. z o.o. with its registered office in Warsaw and Crestyl Real Estate s.r.o., with its registered office in Prague.
The decision to sell the shares in Budimex Nieruchomości was preceded by a several-month-long process of reviewing strategic options launched in July 2020. As part of the aforementioned process, Budimex S.A., together with the advisor, analysed several scenarios for the Company’s development. In September 2020, a decision was made to focus the process on the option of acquiring a strategic investor, and in November 2020. A selected group of investors has started a due diligence audit of the development segment. In December 2020. Budimex received five offers to purchase Budimex Nieruchomości and, after analysing them, decided to grant exclusivity to the selected bidder, which are new investors.
The condition for concluding the final agreement transferring the right to the shares was that the Buyer obtained the consent of the President of the Office of Competition and Consumer Protection to execute the transaction, which was obtained.
Information on the conclusion of the sales agreement: https://media.budimex.pl/pr/648201/podpisanie-umowy-sprzedazy-budimex-nieruchomosci-komunikat-zarzadu-budimex-sa