Marvipol will not buy Soho Development shares

Warsaw Stock Exchange-listed developers Marvipol and Soho Development have announced they have broken off negotiations regarding the acquisition by Marvipol of a major package of Soho shares, citing lack of agreement on the price and the other key terms of the transaction as the main reason. Marvipol was previously planning to buy up to 33 percent of shares of Soho Development, which is developing the Soho Factory residential project in Warsaw. Marvipol still wants to actively participate in the consolidation of the developer market in Poland, but the company is currently not in any talks regarding M&A transactions in the sector, said management board president Mariusz Książek.

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