Rymarz Zdort has advised the Amos Luzon Development and Energy Group on the squeeze-out of the minority shares in Ronson Development.
Bank Pekao-Biuro Maklerskie Pekao acted as an intermediary for the purpose of the squeeze-out process.
Ronson Development is a real estate developer in Poland with residential investments mainly in Warsaw, but also in Poznan, Wroclaw, and Szczecin.
According to Rymarz Zdort, “the Ronson share squeeze-out process was initiated in May 2021. The Luzon Group, which at that time held 66.1% of the shares, announced an offer to purchase the shares from all of the other interested shareholders. On February 14, 2022, the Luzon Group required the buy-back of 8,144,022 shares in Ronson Development held by the minority shareholders and representing 4.97% of the share capital. The squeeze-out date was set for February 17, 2022, and the price per share was PLN 2.51. As a result, the Luzon Group now holds in aggregate 100% of the share capital of Ronson Development.”
Rymarz Zdort’s team included Managing Partner Pawel Rymarz, Partner Jakub Zagrajek, and Associate Malgorzata Derus.