December 1, 2017
ROBYG Group with strategic investor Goldman Sachs

On December 1st, 2017,ROBYG Group – one of the leading residential developers in Poland – has entered into a transaction agreement with Goldman Sachs (GS), who announced its intention to launch a public tender offer to purchase 100% of the shares issued and outstanding of ROBYG SA (the “Tender Offer”). In the Tender Offer, ROBYG’s shareholders will be offered a cash consideration of PLN 3.55 for each share. The offer price represents a premium of 12.3% to the closing price of ROBYG’s shares on November 30, 2017, respectively 9.9% and 8.9% premium to 3- and 6-months volume-weighted averages, 18.3% premium to the issue price of PLN 3.00 per share under latest share capital increase based on the issue resolution of June 6th, 2017 and 42.6% premium to the closing price on May 12th, 2015 – the day preceding ROBYG’s announcement on starting the search for a strategic investor. Concurrently key managers of ROBYG Group – together representing app. 10.2% of the share capital of the company – have undertaken to tender all their shares in the Tender Offer.

On May 13th, 2015 the Management Board of ROBYG announced that it was launching an analysis of strategic options that would ensure the continued growth of the company and stabilize its ownership structure.


Completion of the Tender Offer is, among others, subject to customary terms and conditions described in Tender Offer document, including consent of the President of the Competition and Consumer Protection Office as well as tendering at least 66% of the shares in the share capital of ROBYG S.A. under the Tender Offer. The subscription for the Tender Offer is expected to commence on or about January 2nd, 2018, and initially expire on February 2nd 2018. The Offeror reserves the right to extend the subscription period in accordance with the terms and conditions of the Tender Offer.


„The Management Board of ROBYG has been working for many years to build the strong position of the company on the residential market in Poland. The priority was always focused on the shareholders interest, which has been confirmed by the dividend payment year by year. GS is an ideal strategic partner though its significant capital resources, extensive industry knowledge and institutional experience. GS will effectively support ROBYG in cementing its position in the Polish residential market and fostering further growth and expansion of its operations. The Management Board is evaluating the Tender Offer and anticipates to issue a formal recommendation to the ROBYG’s shareholders over the coming days. commented Oscar Kazanelson, Chairman of the Supervisory Board of ROBYG SA.

ROBYG Group recorded PLN 350 million income after three quarters of 2017 and the net profit attributable to shareholders of the parent company amounted to PLN 47 million. The company increased the expected net profit for 2017 – up to PLN 105 million and predicts ca. 2 500 units to be recognized in revenues. After three quarters of 2017 ROBYG Group contracted in Warsaw and Gdansk 2702 units net (including cancellations) and recognized in revenues 1118 units.

Key facts and figures of ROBYG Group:

  • Contracted units in 2016: 2 957 – increase by 27% comparing to 2015
  • Estimated contracted units in 2017: app. 3 400 – according to the current market conditions
  • Handed over units in 2016: app. 2 800
  • Estimated amount of handed over units for 2017: app. 2 500

More information:


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