Date of publication: 21.07.23
On 4th July, Unimot Group signed a final contract for the purchase of 80% shares in P2T, a logistics and trading company in the energy raw materials industry. The company will operate within the Group under a new name, Unimot Commodities.
The company acquired by Unimot Group is involved in the trading of energy raw materials such as biomass and coal, as well as the purchase of sea and land freight and the supervision over deliveries at sea and land border crossings.
In our report for the first quarter of 2023, we distinguished a new business segment called “solid fuels.” The aim was to expand the operation to a larger scale within this area. The acquisition of P2T, which will operate under the business name “Unimot Commodities”, including its know-how will enable us, on the one hand, to achieve synergies within the Group and, on the other hand, to diversify the sources of EBITDA, which is of key importance when facing high volatility of the fuel and commodity markets in which we actively operate” says Adam Sikorski, President of the Management Board of Unimot S.A.
Unimot Group is required to pay a base price and an additional price agreed upon under the “earn-out” mechanism, through the payment of a share of the profit made in the years 2023–2024, in exchange for the acquisition of 80% of the shares. The total cost of Unimot Group’s engagement in the aforementioned transaction is PLN 15 million (including PLN 5 million payable on the transaction date and PLN 10 million payable till 31st December 2023), except for the additional price to be determined under the “earn-out” mechanism.
Due to the fulfilment of all condition precedents set out in the preliminary conditional share purchase agreement, the final contract for the acquisition of P2T was concluded.
The Law Firm Sadkowski i Wspólnicy served as Unimot Group’s legal advisor on this transaction.
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