Clifford Chance has advised Sibelco on a tender offer for the purchase of all shares in Krynicki Recykling. Kancelaria Kurek, Wojcik i Partnerzy advised Krynicki Recykling.
The transaction remains contingent on regulatory approval.
“Subscriptions to sell shares in the tender offer will be accepted from April 12 through May 11, 2022,” Clifford Chance informed. “If the threshold of at least 95% of the total votes at the general meeting of Krynicki Recykling is achieved as a result of the tender offer, Sibelco does not rule out commencing a squeeze-out of the minority shareholders, followed by the delisting of the company’s shares from trading on the stock exchange. The tender offer will be effective if existing shareholders submit subscriptions to sell at least 51% of the shares, i.e. 8,856,558 shares.”
Sibelco is a global material solutions company providing services to industries such as glass, ceramics, construction, coatings, polymers, and water purification.
Krynicki Recykling is a glass recycling company operating in Poland.
The Clifford Chance team was led by Partner Wojciech Polz and included Counsels Pawel Puacz and Piotr Bogdanowicz, Senior Associates Kamil Sarnecki, Karol Kulhawik, Marta Michalek-Gervais, and Joanna Kaminska, and Associates Zuzanna Potoczna, Krzysztof Regucki, Julia Piotrkowicz, and Michal Szczepanowski.
The Kurek, Wojcik i Partnerzy team included Senior Partner Maciej Kurek and Partner Edyta Stepien.