WARSAW – 29 June 2023 – Greenberg Traurig represented KI Chemistry, a company from the Kulczyk Investments group, in connection with the acquisition of shares of Ciech S.A. via a public invitation for the sale of shares.
As a result of the transaction, KI Chemistry acquired shares in Ciech S.A., representing 11.78% of the company's share capital, thereby increasing its stake in the chemical company from the previous 58.22% to around 70%. The value of the transaction and the acquired shares amounted to nearly PLN 337 million.
The acquisition of shares of Ciech S.A. is another element of a long-term strategic financial investment by KI Chemistry. KI Chemistry's intention is to continue to support Ciech S.A. in its existing and planned activities, initiating actions to strengthen its market and financial position by unifying and streamlining corporate governance in processes related to the implementation of strategic decisions. The transaction is a continuation of activities of KI Chemistry, which in March 2023 launched a voluntary tender offer for Ciech S.A. shares.
Greenberg Traurig provided comprehensive legal advice with respect to the transaction.
KI Chemistry is a subsidiary of Kulczyk Investments, a private, international investment house with offices in Luxembourg, London and Warsaw, that has been supporting companies in their global growth for 30 years.
Ciech is an international developing chemical group with a strong position on global markets. It is the second largest manufacturer of sodium carbonate and sodium bicarbonate in the European Union, the largest manufacturer of evaporated salt in Poland, the largest supplier of sodium silicates in Europe, the largest Polish manufacturer of plant protection products and a leading producer of polyurethane foams in Poland. Its factories are located in Poland, Germany and Romania and it employs over 3,000 people throughout the EU.