Brief: OT Logistics to buy STK, 80% of Kolej Baltycka

OT Logistics SA

30/06/2016 07:54

June 30(Reuters) - OT Logistics SA  OTSL.WA : 
    * Said on Wednesday it has signed a conditional investment 
agreement with STK Group Sp. z o.o. (STK Group) regarding its 
investment in STK SA (STK) and shares of Kolej Baltycka SA (KB), 
as well as an investment of STK Group in OT Logistics' shares 
    * OT Logistics is to acquire a 100 percent stake in STK for 
29.7 million zlotys ($7.45 million) and an 80 percent stake in 
KB for 3.4 million zlotys 
    * The total purchase price is 33.1 million zlotys and can be 
reduced subject to some conditions 
    * STK Group is to acquire 91,406 OT Logistics' shares, the 
transaction will comprise OT Logistics' own shares from share 
buyback, as well as new D series shares 
    * STK Group to pay a total of 23.4 million zlotys or 256 
zlotys per share for OT Logistics' shares  
    * The payment by OT Logistics for STK and KB shares in the 
amount of 23.4 million zlotys will be made by offsetting mutual 
liabilities, the remaining amount will be covered by non-cash 
transactions from a sale of a real estate owned by STK SA and 
its unit to STK Group 
    * The terms of letter of intent from June 2 have been 
modified in order to acquire STK SA and KB shares directly from 
their controlling owner (STK Group), initially they were to be 
bought from Partem Sp. z o.o. SK.   
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM2947979 
     
 Further company coverage:  OTSL.WA   
    
 
 
 
($1 = 3.9877 zlotys) 
 
 (Gdynia Newsroom) 
 ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))