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.
Greenberg Traurig, LLP is a global, multi-practice law firm with approximately 2650 attorneys serving clients from 45 offices in the United States, Latin America, Europe, Asia, and the Middle East.
GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k. was named the 2021 Poland Firm of the Year award at the highly esteemed Euromoney Legal Media Group “Women in Business Law Awards 2021 Europe” and the 2021, 2019, 2018 Law Firm of the Year in Poland by International Financial Law Review (IFLR). The Warsaw office of Greenberg Traurig, LLP provides legal services to clients in Central Europe and beyond and consists of approximately 100 lawyers. Team members are regularly recognized as leaders in numerous practice areas. Chambers Global, Chambers Europe, IFLR1000 and EMEA Legal 500 consistently rank them among the top tiers the areas of Corporate/M&A, Capital Markets, Real Estate, Private Equity, Tax, Banking and Finance, Project Finance, Energy, Dispute Resolution, TMT and Antitrust/Competition.
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