Aktueller Bericht Nr. 77 / 2021

Signature of the agreement on exclusivity in negotiations concerning the acquisition of the wind farm project

The Management Board of Budimex SA (“Budimex”) informs that on 10 November 2021 it entered into an agreement with FIGENE CAPITAL S.A. with its registered office in Warsaw (“FIGENE”), pursuant to which Budimex will obtain the negotiation exclusivity regarding the acquisition of 100% of shares in the special purpose vehicle Magnolia Energy sp. z o.o. with its registered office in Warsaw (“SPV”), which is implementing the wind farm construction project (“Project”).

The project envisages the construction of a wind farm consisting of 2 wind turbines with a total capacity of 7 MW and is a ready-to-build (“RTB”) project. 

The Parties undertook in good faith and with due diligence to negotiate the acquisition by Budimex of all shares in the SPV and to make best efforts to implement the contemplated transaction. Before commencing the planned transaction, Budimex intends to conduct due diligence on the project.

The exclusivity shall be granted until 10 December 2021.

Budimex considers this information to be confidential since that the implementation of the contemplated acquisition of the Project would constitute an entry into a new area of the core business, despite the fact that the estimated value of the transaction does not exceed the thresholds specified in the Individual Reporting Standard of Budimex S.A. for the acquisition of assets of significant value and for the conclusion of a significant agreement.