Poland's ARP, Polimex Mostostal and TF Silesia ink binding contract on lease of Rafako's assets
Poland's industrial development agency ARP, listed builder Polimex Mostostal and financials company Towarzystwo Finansowe Silesia have entered into a binding agreement on the lease of assets of listed engineering company Rafako, ARP stated in a press release.
Earlier, the investors obtained the approval of Poland's antitrust and consumer protection regulator UOKiK for the concentration, involving the creation of a joint venture.
As reported, ARP sold to its partners 2/3 of the shares of its consultancy unit, ARP Doradztwo company (1/3 of the shares each to Polimex and TF Silesia).
This company will then take over Rafako's key assets, after increasing its capital by PLN 27 million (EUR 6.3 mln) and changing its name to RFK, following approval of the merger for leasing.
"RFK's activities in the rail and armaments sectors will not only secure jobs, but also activate regional suppliers and service providers, contributing to strengthening the competitiveness of the entire Silesian industry," ARP wrote in the press release.
Rafako's management filed for bankruptcy in September 2024.The group is a general contractor of power units and Europe's leading manufacturer of boilers. It also provides industrial construction services.
Two weeks ago, Poland's Prime Minister Donald Tusk had announced that although it is impossible to continue Rafako's current operations, nothing prevents that where boilers were once manufactured, armaments production could now be launched.
On Tuesday, April 29, the government decided to transfer over PLN 700 million (EUR 163.66 mln) to Poland's industrial development agency ARP. The funds are to be used, among others, to support financially distressed companies such as Rafako and Rafamet.
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