Home    Current Report 71/2014
   Temat:
CFI HOLDING S.A.: Signing of a Letter of Intent

The Management Board of Intakus S.A. (hereinafter: the “Company”), acting pursuant to Article 56(1)(1) of the Act of 29 July 2005 on public offerings and the conditions for introducing financial instruments to organized trading, as well as on public companies, announces that on 24 October 2014, a letter of intent was signed between the Company and Restata Investments Limited, based in Gibraltar (hereinafter: “Restata”). The parties to the letter of intent declare that:

  • They will enter into negotiations aimed at the acquisition by Intakus S.A. from Restata of 99.999% of the shares in Central Fund of Immovables Sp. z o.o., based in Łódź, registered in the National Court Register under number KRS 0000039596 (hereinafter: “CFI”).

  • The negotiations will conclude by 31 December 2014, unless the parties agree otherwise.

  • In the event of reaching an agreement, payment for the acquisition of shares in CFI will be made within three years of signing the agreement.

  • Restata, or entities designated by it, will participate in the increase of the Company’s share capital in order to obtain funds necessary to pay for the acquisition of shares in CFI.

  • The final transaction price for the acquisition of shares in CFI will be determined based on due diligence commissioned by the Company’s Management Board, carried out by an external entity, and through negotiations between the parties.

  • In negotiations with Restata, the Company will be represented by a member of the Supervisory Board selected by the Supervisory Board to avoid any conflict of interest.

Central Fund of Immovables Sp. z o.o., founded in 2001, is one of the largest real estate companies in the Łódź Voivodeship. The company has extensive experience in the commercialization of various commercial, office, and warehouse properties. Currently, CFI manages over seventy commercial properties located in the Łódź, Mazowieckie, Silesian, Pomeranian, Lower Silesian, and Lubusz Voivodeships. Its assets include office buildings, commercial and utility tenements, local shopping and service centers, and former industrial buildings adapted into functional office spaces.

CFI’s core business involves opportunistic acquisition of real estate assets—including residential, office-commercial, and industrial properties—and their adaptation for commercial, service, and office purposes.

In line with its strategy to expand into hospitality services, CFI has created its own brand of hotel and conference facilities under Boutique Hotel’s (www.hotels24.com.pl).

Additionally, the CFI Capital Group includes:

  • Wrocławskie Przedsiębiorstwo Usług Hotelarskich Sp. z o.o. (www.puhot.pl), in which CFI controls 52% of the share capital;

  • Wrocławskie Centrum SPA Sp. z o.o. (www.spa.wroc.pl), fully owned (100%) by CFI;

  • Active Man Sp. z o.o. (www.imfit.pl), fully owned (100%) by CFI;

  • Food Market Sp. z o.o. (www.foodmarket.pl), fully owned (100%) by CFI;

  • Przedsiębiorstwo Usługowo-Handlowe „Chemikolor” S.A. (www.chemikolor.pl), in which CFI controls 58% of the share capital;

  • Krajowa Spółka Przemysłu Odzieżowego „Polconfex” Sp. z o.o. (www.polconfex.com.pl), in which CFI controls 64% of the share capital.