Kety metals group concludes promised agreement for purchase of shares in Selt

Listed metals group Kety has concluded a promised agreement for the purchase of 211,815 shares in Selt, representing 100 percent of the share capital, Kety said in a market filing. The final sale price of the shares amounted to PLN 394.9 million (EUR 92.2 mln).

As stated, the acquisition of shares was financed from Kety group's own funds and with a bank loan.

Selt is one of the leaders on the Polish market for the production of sunscreen systems, with revenues of about PLN 280 million (EUR 65.4 mln).

Kety had earlier announced that the acquisition of this company would enable the group to extend the value chain, expand the group's product portfolio in a prospective market area, where the group's presence to date has not been significant, and allow it to achieve a number of synergies in, among others, the areas of purchasing, sales and customer service.

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