{"id":156189,"date":"2018-09-17T17:20:23","date_gmt":"2018-09-17T17:20:23","guid":{"rendered":"https:\/\/bdm-stg.mda.pl\/informacje-prasowe\/budimex-finalized-the-sale-of-elektromontaz-poznan\/"},"modified":"2024-06-07T12:09:24","modified_gmt":"2024-06-07T12:09:24","slug":"budimex-finalized-the-sale-of-elektromontaz-poznan","status":"publish","type":"press","link":"https:\/\/bdm-stg.mda.pl\/en\/press\/budimex-finalized-the-sale-of-elektromontaz-poznan\/","title":{"rendered":"Budimex finalized the sale of Elektromonta\u017c-Pozna\u0144"},"content":{"rendered":"\n
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17.09.2018<\/p>\n

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Budimex finalized the sale of Elektromonta\u017c-Pozna\u0144<\/h2>\n

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\n Budimex S.A. has concluded two share sale agreements. Under the first agreement, Budimex S.A. sold its 99% stake in\u00a0Elektromonta\u017c-Pozna\u0144 for PLN 65 million. Under the second agreement, Budimex S.A. sold its 99% stake in\u00a0Biuro Inwestycji \u201cGrunwald\u201d S.A. for PLN 43 million. <\/strong>\n <\/p>\n

At\u00a0the time of the sale, Elektromonta\u017c-Pozna\u0144 S.A. was engaged in\u00a0the provision of electrical installation services for non-residential construction, while Biuro Inwestycji \u201cGrunwald\u201d S.A. had funds from the sale of an organised part of the enterprise to\u00a0Budimex Nieruchomo\u015bci sp. z\u00a0o.o.<\/p>\n

In\u00a01999. Budimex S.A. took part in\u00a0the commercialisation of Elektromonta\u017c-Pozna\u0144 S.A. by\u00a0taking up a\u00a025% stake in\u00a0the company\u2019s share capital. In\u00a02013, Budimex S.A. took control of the company, increasing its involvement to\u00a051% of shares in\u00a0the share capital. Finally, at\u00a0the end of\u00a0 2017. Budimex S.A. held 99% of shares in\u00a0the share capital of Elektromonta\u017c-Pozna\u0144 S.A.<\/p>\n

In\u00a02017. at\u00a0the request of Budimex, the process of dividing Elektromonta\u017c-Pozna\u0144 was initiated, which aimed to\u00a0separate the real estate part of the business. In\u00a0February 2018. the property management segment was formally transferred to\u00a0Budimex Inwestycje \u201cGrunwald\u201d S.A. (which in\u00a02018 changed its name to\u00a0Biuro Inwestycji \u201cGrunwald\u201d S.A.) as\u00a0part of the formal spin-off process. In\u00a0August 2018. The property management segment was acquired by\u00a0Budimex Nieruchomo\u015bci sp. z\u00a0o.o. under an agreement for the purchase of an organized part of the enterprise.<\/p>\n

The sale of both companies is a\u00a0consequence of the implementation of Budimex S.A.\u2019s strategy of focusing on\u00a0the group\u2019s leading business.<\/p>\n

As\u00a0a\u00a0result of the concluded agreements, Budimex S.A. will recognise in\u00a0the separate financial statements a\u00a0profit before tax of approximately PLN 66 million, while in\u00a0the consolidated financial statements it will show a\u00a0profit before tax of approximately PLN 44 million. The above values may change after the final settlement of the costs related to\u00a0the transactions.<\/p>\n

In\u00a0the first half of 2018. Elektromonta\u017c-Pozna\u0144 S.A. generated sales revenues of PLN 70.8 million and gross profit before tax of PLN 2.5 million. Upon the sale of Elektromonta\u017c-Pozna\u0144 S.A., Budimex S.A. ceases to\u00a0consolidate the company\u2019s results.<\/p><\/div>\n <\/div>\n

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Budimex S.A. has concluded two share sale agreements. Under the first agreement, Budimex S.A. sold its 99% stake in Elektromonta\u017c-Pozna\u0144 for PLN 65 million. Under the second agreement, Budimex S.A. sold its 99% stake in Biuro Inwestycji “Grunwald” S.A. for PLN 43 million. …<\/p>\n","protected":false},"featured_media":153660,"parent":0,"template":"","press_type":[537],"acf":[],"yoast_head":"\nBudimex finalized the sale of Elektromonta\u017c-Pozna\u0144 - Budimex<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budimex finalized the sale of Elektromonta\u017c-Pozna\u0144 - Budimex\" \/>\n<meta property=\"og:description\" content=\"Budimex S.A. has concluded two share sale agreements. 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