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New Deal


Announced

Centerbridge and Goldman Sachs acquired ROBYG for €244m.

Synopsis

Bricks Acquisitions, a corporation indirectly owned by the Goldman Sachs together with Centerbridge Partners, and ROBYG, one of the leading residential developers in Poland, entered into a transaction agreement pursuant to which the Offeror will launch a public tender offer to purchase all issued and outstanding shares in ROBYG on the Warsaw Stock Exchange. In the Tender Offer, ROBYG shareholders will be offered a cash consideration of PLN3.55 for each share in ROBYG, representing an aggregate equity purchase price of approximately PLN1bn (c. €244m). The Offer Price represents a premium of 12.3% to the closing price of ROBYG’s shares on 30 November 2017, respectively 9.9% and 8.9% premium to 3- and 6-month volume-weighted averages. Tavis Cannell, Partner in the Special Situations Group at Goldman Sachs said, “The acquisition of ROBYG represents an opportunity for Goldman Sachs to add value to a high quality real estate development platform, building on our local and global experience. We look forward to working alongside the management team to expand ROBYG, providing capital and expertise to support the long term success of ROBYG.”

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