Large acquisition in the real estate market

Large acquisition in the real estate market

German company TAG Immobilien takes over Robyg. The value of the transaction is PLN 2.5 billion.

The owner of Robyg, Bricks Acquisitions from the Goldman Sachs group, has signed a conditional agreement to sell 100 per cent of the developer’s shares. For the deal to go through, the buyer must obtain a concentration approval. This is the first such big takeover of a residential developer in Poland. Information that Robyg is for sale appeared in October. There were many interested parties. As many as thirty interested entities signed a confidentiality agreement.

Goldman Sachs Group acquired Robyg in 2018, in a tender offer. The transaction amounted to just under PLN 1.2 billion. In 2017, Robyg’s revenues were at the level of PLN 738 million. In the first half of this year, Robyg’s revenues exceeded PLN 512 million. The net profit amounted to PLN 117 million.

Dawida Wrona, sales director at Echo Investment, believes that today development in the development industry is possible only through consolidation. This is because there is a big competition and access to land is limited.

Source: https://www.pb.pl/robyg-blisko-przejecia-przez-tag-immobilien-1137021

Portal created by:

FilipiakBabicz.com

Our Social Media

Newsletter

Simplified restructuring

Join the newsletter to download the e-book in Polish

NEWSLETTER

Subscribe to the newsletter and receive additional information