On 9 May 2017, FAMUR S.A. submitted an offer for the purchase of 65.8% of shares in Kopex S.A. to TDJ.
According to the company, the acquisition of Kopex is a breakthrough in the development of the FAMUR Group. It is also an important step in the process related to the consolidation of domestic manufacturers specialising in mining machinery that the FAMUR Group started several years ago.
FAMUR believe the combined potential of FAMUR and Kopex will make it possible to build a strong Polish company that will be the leader in the region and a respected player at the international level. The integration process between the FAMUR Group and Kopex will be carried out this year. It will be officially completed in the first quarter of 2018, but important effects of the synergy should be already visible at the beginning of 2018.
The transaction involving the acquisition of shares in Kopex by Famur opens a new chapter in the history of Polish manufacturers of mining machinery by replacing the existing competition between domestic companies with an extensive cooperation. As a result of the planned integration of key assets, both groups will become the leader in the mining industry in Poland, operating on a global scale and competing with the largest world's players in terms of their offer, know-how and experience.
After the completion of the purchase transaction, the former Kopex Group will be divided into the machinery as well as trade and service unit. The machinery unit of Kopex will be taken over by FAMUR, which will entail the issue of new shares in FAMUR S.A. to the minority shareholders of Kopex S.A. in exchange for the shares corresponding to the machinery unit. As a result, the minority shareholders of Kopex will hold approximately 3% of the increased share capital of FAMUR S.A. and they will remain the shareholders of the listed company, which will continue to carry out its trade and service activity under its new name.
"Over the past months we have prepared an integration plan, taking into consideration all business, operational and social aspects of the transaction. I am convinced that its effective implementation will make it possible to optimally use the potential of both Groups and create the Polish champion that will be ready to implement comprehensive mining and energy projects all over the world," said Miroslaw Bendzera, CEO of FAMUR S.A.
Read the article online at: https://www.worldcoal.com/mining/11052017/famur-group-acquires-kopex-group/