LC Corp will purchase RB Finance Expert

Sky Tower in Wrocław
Sky Tower in Wrocław
LC Corp S.A. and FB Finance Expert signed an investment letter which confirms that the developer wants to purchase 100 percent of FB Finance Expert shares.

The management of LC Corp S.A. notifies that according to the investment letter the company and RB Finance Expert S.A. will take steps required for LC Corp S.A. to acquire all shares of Finance Expert S.A. The company which is to be bought out is controlled by LC Corp B.V. which at present does not conduct any operations and has no significant obligations or assets.

Prior to the purchase the parties want RB Finance Expert to buy LC Corp Sky Tower sp. z o.o. That means that the company will own office, commercial and services part of Sky Tower complex in Wrocław. RB Finance Expert will also take over the long-term investment credit for the project.

Certain conditions must occur in order for LC Corp to buy RB Finance Expert. First of all, as was already mentioned, RB Finance Expert must acquire the property belonging to Sky Tower complex. The company must also purchase land property of LC Corp Sky Tower, and obtain approvals of a consortium of Getin Noble Bank SA and Alior Bank SA banks, the creditors of LC Corp Sky Tower. Additionally, LC Corp S.A. has to win in a public tender funds necessary to purchase RB Finance Expert and to pay the debt.

Sky Tower complex is the highest office project in Poland. It measures 212 meters. The office zone was commissioned to use in March 2013. The complex is located at Powstańców Śląskich Street. In total the project provides 171 000 square meters of space, out of which 28 000 is devoted to offices. Under the agreement RB Finance Expert will acquire about 18 600 square meters of office space and 29 800 square meters of commerce and services space.

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