GESSEL as counsel to RADMOR S.A.
A team of GESSEL lawyers led by Aldona Pietrzak, partner, has advised RADMOR S.A., a subsidiary of ARP S.A., on drawing up documentation and on negotiations concerning the transaction for acquisition of a 46.14% stake in RADMOR S.A. (by taking up shares from the new issue) by WB Electronics S.A.
The contract signed on 6 December 2010 provides for increase of RADMOR S.A.’s share capital through an issue of B-series shares addressed to WB Electronics S.A. in consideration for a cash contribution of approximately PLN 51 million.
The fact that WB Electronics, a privately held Polish company supplying advanced communications and specialised solutions to the armed forces, has chosen to invest in RADMOR, Poland’s largest producer of radio communications devices (supplied to the armed forces, police, and border patrol), brings an opportunity for building a technologically innovative firm with the potential to form the cutting edge for development of military electronics in Poland. Thanks to this transaction, RADMOR will be in a position to finance its PLN 120 million investment programme planned through the year 2016 (which provides for launching production of complete electronics systems for military vehicles and construction of an R&D centre).