MS Galleon AG made a conditional purchase offer to acquire 33.33% stake in Rafako S.A. from PBG S.A. and Multaros Trading Company Limited PLN 28.5 million.

MS Galleon AG made a conditional purchase offer to acquire 33.33% stake in Rafako S.A. (WSE:RFK) from PBG S.A. (WSE:PBG) and Multaros Trading Company Limited for PLN 28.5 million on February 16, 2022. MS Galleon AG agreed to acquire 33.33% stake in Rafako S.A. from PBG S.A. and Multaros Trading Company Limited on March 24, 2022. The deal is subject to approval from the Polish Financial Supervision Authority.

Pursuant to offer the investor will also provide debt financing for the company. The deal would be conditional to rafako signing anex to deal with JSW koks on project related to construction of a power unit fired with coke oven gas. The deal is conditional upon the approval of the President of the Office of Competition and Consumer Protection, due diligence of Rafako, purchase of a minimum of 50% of the total amount of all receivables, acquisition of a minimum of 50% of Rafako's shares acquired by Rafako's creditors and other restructuring conditions.

All suspensive conditions that are not waived by the relevant parties should be met by June 30, 2022.