CADM Automotive Sp. z o.o. signed a letter of intent to acquire 61.82% stake in DES ART Spolka z o.o. from Procad Spólka Akcyjna (WSE:PRD) on March 2, 2018. The letter of intent provides CADM Automotive Sp. z o.o. in with 3 months exclusivity in negotiations. As of November 7, 2018, Procad Spólka Akcyjna has set the consideration price for the transaction at PLN 5.9 million. Both parties plan to finalize the transaction soon. CADM Automotive Sp. z o.o. completed the acquisition of 61.82% stake in DES ART Spolka z o.o. from Procad Spólka Akcyjna (WSE:PRD) on November 15, 2018. Of the total purchase price of PLN 5.87 million, PLN 5.12 million is payable on closing while the remaining amount of PLN 0.75 million securing possible compensation to CADM Automotive Sp. z o.o. resulting from the possibility of contractual breaches of DES ART Spolka z o.o. will be paid in 3 equal installments of PLN 0.25 million, payable on December 31, 2019, December 31, 2020 and December 31, 2021. Under the transaction, 1716 shares of DES ART Spolka z o.o. were sold. The terms of sale include a 3-year non-competition period regarding the areas of activity of DES ART Sp. z o.o. and CADOR Sp. z o.o., a wholly owned subsidiary of DES ART Sp. z o.o. which is also being acquired.