Month: March 2023

We are pleased to announce that we advised Cerceda sp. z o.o., a company owned by Kajima PARTNERSHIPS LIMITED (“Kajima”), and Griffin Capital Partners (“Griffin”) on the acquisition of a 70% interest in Hymon Fotowoltaika (“Hymon”), a Polish company specialising in photovoltaic installations. This is the second investment of this type by Kajima and Griffin on the Polish RES market. In September 2021, the companies announced the creation of a joint venture to finance and develop renewable energy investments in Poland.

Kajima PARTNERSHIPS LIMITED is a company investing in real estate, renewable energy sources and other infrastructure assets.

Griffin Capital Partners is one of the largest private equity and real estate investors and asset managers in Europe.

Hymon is a Polish company specialising in the realisation of photovoltaic power plants and the supply of heat pumps to households, and industrial and corporate customers.

The team advising on the transaction was headed by managing partner Paweł Zdort, who was supported by Jakub Krzemień (partner), Marzena Iskierka-Janota (senior associate), Jakub Wilk (associate), Szymon Rutecki (associate) and Michał Lulka (associate). Legal support in regard to the antitrust aspects was provided by Iwona Her (partner), Tomasz Kordala (senior associate) and Justyna Niezgoda (associate). Advice on the financing aspects of the transaction was provided by Jakub Rachwol (partner) and Augustyna Porzucek (associate).

We are pleased that we have had the opportunity to be involved in another transaction in the renewable energy industry, which is currently one of the fastest growing sectors in Poland. We would like to thank our clients for their trust and congratulate the team and all parties involved.

 

We are pleased to announce that Rymarz Zdort Maruta represented SFS Ventures s.r.o., based in Prague, in the transfer of 11% of the shares in Eurozet sp. z o.o. to Agora S.A.  The transaction was carried out after the Court of Appeal in Warsaw issued a final judgment upholding an earlier decision of the first-instance court granting unconditional consent to Agora’s acquisition of control over Eurozet. As a result of the transaction, Agora’s interest in Eurozet increased from 40% to 51%, while SFS Ventures’ interest fell from 60% to 49%. The price of the shares amounted to EUR 9,170,000, subject to adjustment in accordance with rules agreed by the parties. The transaction was financed using a loan granted by SFS Ventures to Agora.

Prior to the acquisition of the 11% interest by Agora, the parties entered into an annex to the existing shareholders’ agreement between them. This agreement, among other things, grants to Agora the right to acquire the remaining 49% stake in Eurozet held by SFS Ventures. The right can be exercised until 31 July 2025.

The transaction team consisted of Dr hab. Łukasz Gasiński (partner), Dr Adam Puchalski (counsel), Marzena Iskierka-Janota (senior associate) and Szymon Rutecki (associate). Advice on aspects related to the financing of the transaction was provided by Adrian Więsław (senior associate). Legal support in the antitrust aspects of the transaction was provided by Iwona Her (partner) and Tomasz Kordala (senior associate).