UOKiK President’s Decision to Consent to Concentration
Legal basis: Article 17(1) of MAR - inside information
With reference to Current Report No. 33/2024 of 29 April 2024, the Management Board of Develia S.A. (the “Issuer”) inform that today they have been advised that on 19 June 2024 the President of the Polish Office of Competition and Consumer Protection (the “UOKiK President”) granted unconditional con, sent to concentration that involves the creation of a joint venture by the Issuer and Grupo Lar Holding Polonia sp. z o.o., based in Warsaw, (“Grupo Lar Holding Polonia”) – that is the company belonging to the Spanish group of companies Grupo Lar, with a view to carrying out a housing project involving the construction of a housing estate with approx. 550-600 flats, located in Warsaw (the “New Project”).
Accordingly, the Issuer informs about meeting the condition precedent for the New Project set out in the amendment to the JV co-operation agreement of 13 August 2021 made between the Issuer and Grupo Lar Holding Polonia and CGLS sp. z o.o. sp.k., based in Warsaw, the conclusion of which was communicated by the Issuer in Current Report No. 33/2024 of 29 April 2024.
The Issuer will give information regarding further transaction-related activities in subsequent current reports.
The information on obtaining the UOKiK President’s decision on consent to the aforesaid concentration is, according to the Issuer, inside information within the meaning of Article 7 of the MAR.
Legal basis: Article 17(1) in conjunction with Article 7(1a), (2), (3) and (4) of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on market abuse (the Market Abuse Regulation) repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (the “MAR”) in conjunction with Article 2 and 3 of the Commission Implementing Regulation (EU) 2016/1055 of 29 June 2016 laying down implementing technical standards with regard to the technical means for appropriate public disclosure of inside information and for delaying the public disclosure of inside information in accordance with Regulation (EU) No. 596/2014 of the European Parliament and of the Council.