Famur submits offer to buy Kopex

WSE-listed mining machinery firm Famur filed an offer to acquire  65.83 percent stake in rival Kopex for PLN 204 million, Famur said in a market filing. The offer assumes, that after the deal is finalized, Kopex will be split in two units, with one focused on machinery building, and the second on services. Famur expects to close the takeover transaction by end-June. Famur CEO Mirosław Bendzera said that he hopes, that the combined group would becaome the third biggest sector company position on the global market. The formal completion of splitting Kopex is expected for Q1 2018.