SSW advised Impexmetal S.A. on the sale of the former aluminium factory in Konin
We advised our long standing client (Impexmetal S.A., a Polish enterprise operating mainly on the non-ferrous metals market) on a brownfield transaction to sell the former aluminum factory in Konin. The real estate was bought by Johnson Matthey (JM), a global company, listed on the London Stock Exchange, which deals in sustainable energy technologies.
It took almost two years to complete the transaction, which was implemented in two stages. Initially, JM purchased land on which its new factory – a chemical batteries manufacturing plant – is currently being developed. In the second stage, JM acquired other properties on which it will construct a transformer station to provide electricity to the factory. From its very first day of operations, the plant will be powered solely by electricity from renewable sources. The whole project is expected to commence operations in 2022.
This complexity of the transaction made it unique. Prior to closing, it was necessary to transfer an extensive underground and above-ground infrastructure, to ensure an adequate power supply for the operations of the newly designed factory and to agree terms of cooperation between JM and the seller, because Impexmetal is continuing its own operations from the neighboring property.
The properties were sold for several dozen million Euro.
The transaction was supervised by Maciej Duch, a partner in our real estate team, supported by Paweł Śliwka (associate) and Aleksander Duma (senior associate). The buyer was represented by lawyers of B2Rlaw law firm and EY Poland, the latter of which advised on the law concerning technical and construction issues.