Rafako withdrew from the preliminary terms of the contract with Polimex Mostostal and Fundusz Inwestycji Polskich Przedsiębiorstw FIZ AN. Investors were to buy Rafako shares owned by PBG and Multaros, and provide Rafako PLN 31m in financing. Rafako wants to conduct further talks only with the fund.
The preliminary arrangements concerned the purchase, outside the organized trading system, of 7.67 million Rafako shares from PBG and 34.8 million shares from Multaros Trading Company Limited.
According to preliminary conditions, investors were also to provide Rafako with financing in the form of a loan, bond or other similar instrument, up to the amount of PLN 31 million. The funds were to be allocated solely to the company’s development needs.
The main reason for Rafako’s declaration of withdrawal from the letter of intent and the preliminary terms of the agreement is the deadlock in the process related to the acquisition by the fund and Polimex of Rafako shares owned by PBG and Multaros Trading Company Limited and the provision of financing by investors.
The Management Board of Rafako intends to continue discussions regarding the investor process individually with Fundusz Inwestycji Polskich Przedsiębiorstw FIZ AN. (PAP Biznes)