Sale of Termet and Tester to Ferro

Rymarz Zdort advised the sellers on the sale of approximately 70.65% of the shares in Termet S.A. and 100% of the shares in Tester sp. z o.o. to Ferro S.A.

Termet S.A. is a manufacturer of heating equipment, including various types of gas boilers, water heaters and solutions based on renewable energy sources. Tester designs, manufactures and sells electronic control and automation systems for gas equipment.

The preliminary share purchase agreements were executed on 26 November 2020 subject to a condition precedent of the purchaser obtaining concentration clearance involving the acquisition of control over Termet S.A. from the President of the Office of Competition and Consumer Protection, or another decision confirming that no concentration clearance is required for the acquisition of control over Termet S.A. The transaction is expected to be closed in the first quarter of 2021.

The firm’s transaction team was headed by Dr Filip Uzieblo, an attorney-at-law and a partner in the corporate department, and Aleksandra Dobrzynska-Grezel, an attorney-at-law and counsel in the same department. The transaction team comprised: Aleksandra Sliwa, an associate in the real estate practice, Marek Kanczew, an attorney-at-law and counsel in the tax department and the employment practice, Irmina Watly, an attorney-at-law and counsel in the antitrust protection practice, Antonina Falandysz-Ziecik, an associate in the same practice, and Dr Jakub Zagrajek, an advocate and a partner in the corporate department.