Unimot Group has completed the transaction of the acquisition of Olavion’s shares

Date of publication: 09.03.23

Unimot Group, a multi-energy group of companies and a leader among independent importers of fuels within Poland, has signed the agreement for the acquisition of 90 % shares owned by Olavion, a company involved in rail transportation services. This is a subsequent step to expand the railway infrastructure and supplement the Group’s value chain in logistics. In accordance with the preliminary agreement, the purchase agreement for the remaining 10% will be signed no later than 7^thJuly 2025.

Olavion, whose majority shareholding was acquired by the Unimot Group, provides services in the field of rail transportation in Poland under the uniform certificate, as well as freight forwarding services nationally and abroad. The Company has a well-qualified managerial staff, drivers and dispatchers. In addition, Olavion maintains long-term business relationships and has multi-annual agreements concluded, which allow for providing freight and shipping services to its customers. Olavion has 16 locomotives and 79 employees, including 49 drivers. Within the entire year 2022, Olavion transported more than 1.1 million tons of goods. It is worth noting that the Company may transport approximately 1.7 million tons of goods annually. Additionally, Olavion has entered into lease agreements for 5 modern locomotives with a supplementary diesel motor, as well as agreed upon lease terms and conditions for 2 modern multisystem locomotives, allowing them to operate not only in Poland, but also in the Czech Republic, Slovakia, and Germany. In the second half of 2023, they will be put into operation, thus increasing transportation potential and significantly enhancing the company’s operational capabilities.

The acquisition of Olavion’s shares is part of our logistics infrastructure investment program, which aim is to secure this aspect of our business operations and ultimately use the synergy effect generated by the entire value-chain. We recently concluded agreements for the purchase of additional batches of rail tank cars, which will be delivered in stages by mid-July of this year. We are deeply convinced that the business decisions associated with the logistics investments will translate directly into cost-effective product availability for our customers, thereby positively affecting the results of the entire Unimot Group,” says Adam Sikorski, President of the Management Board of Unimot S.A.

The subject matter of the share purchase agreement concluded on 7^th March 2023 is the acquisition of 90 % of Olavion shares from two natural persons, including the majority shareholder. The other agreements will be concluded with management staff for the remaining 10% of Olavion’s shares. The aforementioned agreements will be signed no later than 7^th July 2025.

With regard to the transaction in question, the Unimot Group’s legal advisor was the Law Firm Sadkowski i Wspólnicy.