GESSEL advises LENTEX S.A. on divestment of a subsidiary

GESSEL provided legal support to LENTEX S.A. in its EUR 20 mln sale of a 100% stake in LENTEX Wykładziny Sp. z o.o. to Unilin B.V., a Belgian entity of the Mohawk group.

The closing of the transaction was held on 3 October 2022 – the culmination of the preliminary agreement from 22 April 2022 and of subsequent fulfilment of the conditions precedent, which included effectuation of an in-kind contribution by LENTEX S.A. in the form of an organised part of the business enterprise engaged in production of flooring.

“Our advice covered not only drafting and negotiation of the share purchase agreement as such; we also worked on a number of contracts intended to ensure independent operation of the entity subsequent to closing, and we supported the Client throughout the lengthy transition process. I am proud of our team, whose members displayed their usual commitment in safeguarding the key interests of our Client every step along the way”, comments Dr Bartłomiej Woźniak, managing associate, who led a team composed of Katarzyna Olszak, senior associate, Tomasz Drągowski, of counsel, Majka Rucińska, senior associate, and Karolina Sobóla, associate, working under the overall supervision of Maciej Kożuchowski, partner.

LENTEX S.A. is a leading Polish producer of elastic PVC flooring for residential and industrial applications and of nonwovens; it prides itself on combining 100 years of tradition with cutting edge technologies. LENTEX S.A. shares are listed on the Warsaw Stock Exchange.

The Unilin group is a global producer of flooring materials, with a workforce of over 4,000 employees staffing 14 factories.