Cyfrowy Polsat acquired 66.94% of the shares in Port Praski for PLN 553.65 million

Cyfrowy Polsat concluded a promised agreement with Embud 2, under which it acquired 66.94% of shares in Port Praski for PLN 553.65 million, Cyfrowy Polsat reported. At the same time, it was agreed to postpone the closing date for the purchase of approximately 32% of Pantanomo's share capital by Cyfrowy Polsat - by the end of May this year.

"In addition, in connection with the ongoing analyzes of the final capital structure, which includes Pantanomo Limited, a Cyprus law company with its seat in Limassol, on April 1, 2022, the company and Tobe Investments Group Limited, a Cypriot law company with its seat in Limassol concluded an annex to the preliminary an agreement concerning the acquisition by the company of 4,705 shares in Pantanomo, representing approx. 32% of the share capital of Pantanomo, which was concluded by the company with Tobe on December 20, 2021. " - we read in the announcement.

On the basis of the annex, Cyfrowy Polsat and Tobe decided to postpone the closing date of the transaction.

Port Praski is a company that, through its subsidiaries, conducts development activities, mainly in Warsaw in the Praga-Północ district. Pantanomo is engaged in real estate management, as well as holding, financial and investment activities, said the release.

Cyfrowy Polsat and Polkomtel form an integrated media and telecommunications group controlled by Zygmunt Solorz. Cyfrowy Polsat shares have been listed on the WSE since 2008.

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