DLA Piper advises ARP on acquisition of JSW Group companies

Global law firm DLA Piper has advised the Industrial Development Agency (Agencja Rozwoju Przemysłu, ARP) on the conclusion of a preliminary share sale agreement related to the acquisition of Przedsiębiorstwo Budowy Szybów S.A. (PBSz) and Jastrzębskie Zakłady Remontowe (JZR), both owned by the JSW Group.

PBSz specializes in the construction and modernization of mining infrastructure, including mine shafts, while JZR provides maintenance and repair services for machinery and equipment used in the mining sector.

The initial value of the transaction exceeds PLN1 billion (approx. EUR234 millon), making it one of the significant restructuring processes in the Polish mining sector in recent times.

The transaction forms part of the restructuring process of the JSW Group and measures aimed at strengthening the group’s financial liquidity.

“Supporting strategic initiatives aimed at the development of Polish industry, particularly projects of significant restructuring and systemic importance, is always a great privilege for us. This transaction represents an important element of the sector’s transformation and the strengthening of its long-term stability,” said Piotr Miller, partner in the Corporate team at DLA Piper.

Completion of the transaction is subject to the fulfilment of regulatory conditions , including approval from the President of the Polish Office of Competition and Consumer Protection (#UOKiK), consent from financing institutions, and the fulfilment of conditions relating to financial settlements between the companies and the JSW Group.

Agencja Rozwoju Przemysłu S.A. supports the restructuring of enterprises and the development of strategic sectors of the Polish economy. Its involvement in the process concerning the assets of the JSW Group forms part of broader efforts to ensure the stability of one of the pillars of Poland’s energy security.

The DLA Piper team advising ARP included: Piotr Miller (partner, Corporate), Katarzyna Wacławek (partner, Finance), Michał Sowiński (counsel, Corporate), Michał Orzechowski (counsel, Litigation & Regulatory), Alicja Ciebiera (senior associate, Finance) and Artur Hammermeister (junior associate, Corporate).