Marvipol hopes to split its business in H2 2017

WSE-listed Marvipol hopes to finalize the group split into two separate listed entities in H2 2017, company's CEO Mariusz Książek said. Firm plans to divide its business into two groups, real estate one – Marvipol Development and the automotive one – British Automotive Holding. “I hope that by splitting Marvipol's operations into two, separate entities we will be able to estimate their market value in a diligent way,” Książek said. The company plans to file necessary prospectus to the financial market regulator KNF soon. Marvipol Development will be spun off, and Marvipol will change its name to British Automotive Holding and its shareholders will receive one share of the real estate company for every Marvipol share they own. Marvipol specializes in residential real estate and is also an importer and distributor of Jaguar Land Rover cars for Poland and owns Robo Wash Center car wash chain.