The wooden door and window manufacturer Pozbud is to acquire the NewConnect listed company Baumal Group, which produces PVC and aluminium doors and windows, according to Parkiet.
Pozbud will purchase 5.4 million shares, representing 81.8% of Baumal Group’s capital, from the company’s main shareholders, i.e. Adrian Baum and Monika Szeszula. The transaction is worth PLN 32.4m (€7.8m), but Pozbud will pay for the stake with its own shares, rather than in cash. In connection with the above, the company will issue 8.1 million shares at an issue price of PLN 4 (€0.96) per share. Pozbud also intends to offer its shares to Baumal Group’s remaining shareholders as well as to other shareholders via a private subscription.
Before the acquisition can be finalised, Pozbud’s shareholders must first agree to an issue of three share series. Up to 1.9 million F series, more than 1.4 million G series shares and 9.9 million H series shares may be issued. The issue price of the latter has been set at PLN 4 (€0.96) per unit, while the prices for the others have not yet been determined, but they will not be lower than PLN 4 (€0.96) per unit. Following its acquisition Pozbud intends to carry out investments worth PLN 44.3m (€10.7m), including a PLN 21m (€5.1m) project to start up a line for producing PVC windows.