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Robyg (almost) taken over

Tomasz Cudowski 12 February 2018

Tomasz Cudowski


+48 22 356 25 26

Tomek graduated from the faculty of modern languages at the Adam Mickiewicz University in Poznań, where he also started his journalist career in the late 1980s. He has worked in the real estate press since 2005, covering the residential market for ‘Eurobuild CEE’ magazine as well as the new technologies and property management sectors. Sometimes he can be heard on Polish Radio 2, where he reviews the press on the morning programme. At other times he can be seen in the Bieszczady or Beskid Niski mountains, where he enjoys rambling with no fixed purpose or destination in mind.

Robyg (almost) taken over
Oscar Kazalnelson, one of the members of the Robyg board who is selling his stake
POLAND Bricks Acquisitions Limited has obtained subscriptions for over 98 pct of the shares of Robyg SA, allowing the Goldman Sachs group owned company to take over the developer.

“We are very happy that in the call we have exceeded the threshold of 90 pct shares and votes at the general meeting. This will allow us to achieve the strategic objective of withdrawing Robyg from stock exchange trading and operating as a long-term strategic investor,” commented Tavis Cannell, the managing director of Goldman Sachs International.

On December 1st 2017, Bricks Acquisitions Limited announced a call for all Robyg shares, offering PLN 3.55 per share. On January 29th, after negotiations with the company’s owners, the price was raised to PLN 4 per share. Bricks Acquisition Limited intends to purchase the remaining shares through a forced buyout. Goldman Sachs International is the exclusive financial advisor for this transaction while Greenberg Traurig Grzesiak is the legal advisor. Pekao Investment Banking is acting as the intermediary in the share call.

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