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Crane operator in takeover deal to get more exposure to wind sector

TAG'S: HERKULES, Construction

The preliminary agreement assumes that Herkules will buy 65.6 per cent of Viatron for 4.5 million pln (6.14 pln/share). The seller is Maciej Radziwill and subsidiary company Cresco Financial Advisors.

This is a significant discount to the market price. Viatron is listed on NewConnect since August 2013, but liquidity is scant - the last transactions were concluded on July 30, 2014 at the rate of 7,01 zł.  The highest price paid in its short history on the alternative New Connect exchange was 12 pln in September 2013 (soon after its market debut).

With the acquisition Herkules wants to strengthen its presence in the wind energy sector. Viatron is mainly engaged in the production and installation of wind turbines. Last year, the company installed 66 turbines, had 9.84 million zł revenue and 2.84 million zł net profit.

Herkules services lifting-transport and facilities in the field of construction. It involved, among others, in the construction of 42 wind farms in Poland and Germany.

2014-08-07

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