Budimex Nieruchomości with new investors

Pursuant to the agreement concluded on 22 February 2021, on 24 May 2021 the title to Budimex Nieruchomości Shares was transferred to CP Developer S.ar.l. with its registered office in Luxembourg.

The agreed value of the transaction amounted to PLN 1,530,000,000. The purchaser is CP Developer S.ar.l., a company set up for the purpose of concluding the 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 on the sale of shares of Budimex Nieruchomości was preceded by a several months long process of reviewing strategic options started in July 2020. Within the framework of the above process, Budimex S.A. together with an advisor analysed several scenarios for the development of the company. In September of 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 began due diligence of the development segment. In December 2020, Budimex received five offers for the acquisition of Budimex Nieruchomości and, after analysing them, decided to grant exclusivity to the selected bidder, i.e. the new investors. 

The final agreement transferring the right to shares required the Purchaser to obtain the consent of the President of UOKiK for the transaction. The condition was met. 

Information on the conclusion of the sales agreement