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Awbud under control

19 May 2017

POLAND Abadon Real Estate now controls a 50.49 pct stake both directly and indirectly in Awbud.

Abadon increased its stake by purchasing a 100 pct stake in Petrofox which held a 41.02 pct stake in Awbud. Murapol, the majority shareholder of Abadon has a 55.48 pct stake in Awbud including a 4.99 pct stake held directly. “Following the settlement of formalities related to the conditions precedent with regard to taking over control of Awbud, which has taken just over three months, we are formally one capital group now with a broad range of resources and competences in regard to implementing projects from the broadly understood real estate market. I think that we will not have to wait long to find synergies because we have clearly set out the principles on which the extended Abadon RE group will operate,” says Michał Sapota, the president of Awbud and Murapol. “We will now focus considerably increasing Awbud’s scale of operations and the optimal use of the opportunities offered by a thriving market,” he added.

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