Soho Development will sell 2 subsidiaries for 41 million to Grupa Eneris

Soho Development has concluded an agreement to sell the shares of its subsidiaries: Recycling Park and Recycling Park Kamionka to Eneris Dolny Śląsk from the Eneris Grupa capital group, investing in waste to energy projects, Soho reported. The selling price for the shares was set at PLN 41 million.

"As a result of a complex process related to the adaptation of the project to changes in the environment of the waste market, regulatory environment and technological solutions expected by investors, the key conditions enabling the conclusion of the transaction were met, including a validity clause for a supplementary environmental decision and a replacement construction permit, which made it possible to negotiate the terms of the transaction favorable for the issuer, resulting from long-lasting talks with many entities interested in purchasing shares, ”reads the release.

The estimated gross profit on the transaction will amount to approximately PLN 14.5 million, it was also announced.

Soho Development is a company listed on the WSE since 1997. The company was established by the minister of privatization acting on behalf of the State Treasury as part of the General Privatization Program (PPP). Currently, the long-term strategy of the fund assumes focusing on development activities based on the owned land bank and the sale of non-strategic assets.

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