PKP PLK will invest in Trakcja
Trakcja signed an investment agreement with Polskie Linia Kolejowe (PKP PLK). As a result, the state-owned company is to acquire 250 million shares of the listed company at PLN 0.8 each.
The agreement is conditional. PKP PLK is expected to conduct due diligence on Trakcja, obtain necessary corporate approvals, and obtain financing. Trakcja’s bankruptcy and restructuring proceedings cannot be commenced until this agreement is finalized.
Trakcja S.A. is expected to carry out due diligence and obtain the necessary corporate approvals. The companies agreed on the most important terms of a settlement regarding litigation claims and foundation piles. The amount of the settlement they agreed upon is PLN 41.75m gross. The agreement also provides for maintaining the terms of the existing financing.
Trakcja operates in the infrastructure construction sector in Poland and abroad. Last year, its consolidated revenue from sales reached over PLN 1.4 billion.