Polish takeovers are continuing their recent boom with the announcement that Trakcja Polska, a leading Polish railway company, will purchase Lithuanian builder Tiltra Group. Trakcja will pay PLN 777 million for Tiltra Group and two subsidiaries, AB Kauno Tiltai and Silentio.
Trakcja’s stake in AB Kauno will amount to 98% while its stake of Silentio will be 22%. Upon completion of the deal the three main parties will merge into a joint capital group under the name of Trakcja Tiltra.
Trakcja Polska’s majority shareholder, Comsa Emte, will remain a strategic partner in the new joint venture. The transaction will be financed with Trakcja Polska’s own resources including up to PLN 152 million in cash. The deal is expected to close by the end of the next quarter.
Trakcja Polska (www.trakcjapolska.com)
Trakcja Polska Group is a holding company consisting of five smaller companies active in railway construction in Poland. It is the leading group in Poland providing that country with construction services for both tram and railway infrastructure projects. The company employs more than 1,000 people and generated turnover in excess of PLN 700 million in 2009.
The five companies making up the group include Trakcja Polska, Bahn Technik, PRKiI, PRK 7 Nieruchomości and Torprojekt Sp. z o.o.
Tiltra Group (www.tiltra.lt)
Tiltra Group, owned by Invalda, is a heavy construction company specializing in road construction, tunnels and bridges, airports, railway systems, and marine ports. The group consists of two construction companies in Poland and one in Lithuania.
2009 profits were reported at PLN 59 million on turnover of PLN 127 million. Nearly 70% of total revenues came from Polish projects.
Tiltra Group employs approximately 2,500 people across all three companies.
Invalda (www.invalda.lt)
Active in Central and Eastern Europe, Invalda is a Lithuanian investment firm specializing in the furniture production, road IT, construction, pharmacy, and real estate sectors. The company was established in 1992 and prides itself on its track record of stability and low grade risk.
Invalda deals in the financial, infrastructure, pharmaceutical, real estate, and furniture manufacturing sectors. The firm is based in Vilnius.
10/12/2010
Central & Eastern Europe, Investment, Poland, Private Equity News, Retail Industry