{"id":13145,"date":"2011-04-19T00:00:00","date_gmt":"2011-04-18T21:00:00","guid":{"rendered":"https:\/\/www.invaldainvl.com\/press-releases\/merger-of-trakcja-polska-and-tiltra-group-completed\/"},"modified":"2011-04-19T00:00:00","modified_gmt":"2011-04-18T21:00:00","slug":"merger-of-trakcja-polska-and-tiltra-group-completed","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/press-releases\/merger-of-trakcja-polska-and-tiltra-group-completed\/","title":{"rendered":"Merger of Trakcja Polska and Tiltra Group completed"},"content":{"rendered":"\n<p>Investment company <em>Invalda<\/em> informs that on Tuesday leading Lithuanian and Polish road and bridge construction group <em>Tiltra Group<\/em> and listed Polish railway infrastructure construction market leader <em>Trakcja Polska<\/em> completed a deal to merge their activities. The deal is worth 777,5 million PLN. This is the largest deal in Baltic states in 2011.<\/p>\n<p>\u201cWith this deal a stage of expansion and value creation is finished &#8211; in five years a local company was transformed into a regional market leader and after a merger with <em>Trakcja Polska<\/em> it will be able to strive for even higher goals\u201d, &#8211; said Darius Sulnis, the president of <em>Invalda<\/em>.<\/p>\n<p><em>Invalda<\/em> sold 44.8 per cent stake in <em>Tiltra Group<\/em> and 43.4 per cent stake in <em>Kauno Tiltai AB<\/em>&nbsp;for 314.1 mPLN and acquired 12.5 per cent stake in <em>Trakcja Polska<\/em> for 132.3 mPLN, <em>Trakcja Polska<\/em> bonds for 119.8 mPLN and got 62 mPLN in cash.<\/p>\n<p>According to D. Sulnis, the stake in <em>Trakcja Polska<\/em> will allow Invalda to profit from growth and potential realization of the merged company <em>Trakcja Tiltra<\/em>.<\/p>\n<p>\u201cCash and bonds part of the deal increase liquidity of Invalda and will allow us to execute new large projects \u2013 we will continue to explore new opportunities for a development\u201d, &#8211; said D. Sulnis.<\/p>\n<p>According to the agreement, proceedings paid to <em>Invalda AB<\/em>&nbsp;for shares in <em>Tiltra Group AB<\/em> and <em>Kauno Tiltai AB<\/em>&nbsp;might be reduced depending on the financial results of <em>Tiltra Group<\/em>. Also a liability of <em>Invalda AB<\/em>&nbsp;in respect of representations and warranties provided to <em>Trakcja Polska<\/em> is foreseen.<\/p>\n<p>Preliminary positive result in consolidated financial statements of&nbsp;&nbsp;<em>Invalda<\/em> Group is approximately 152 mLTL, standalone company \u2013 about 199 mLTL. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investment company Invalda informs that on Tuesday leading Lithuanian and Polish road and bridge construction group Tiltra Group and listed Polish railway infrastructure construction market leader Trakcja Polska completed a..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[6],"class_list":["post-13145","post","type-post","status-publish","format-standard","hentry","category-press-releases","tag-imported"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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