OT Logistics buys STK and Koleje Bałtyckie for PLN 33 mln

Polish inland shipping operator OT Logistics has signed a conditional deal to acquire a 100 percent stake in licensed railway operator STK Group for PLN 29.7 million and an 80 percent stake in Kolej Bałtycka for PLN 3.4 million, the firm said in a filing. At the same time, STK Group will acquire 91,406 shares of OT Logitics for PLN 256 each or PLN 23.4 million in total. The payment will constitute the cancellation of mutually outstanding debt, with the remaining difference to be covered in non-cash real estate transactions. STK Group specializes in the transportation of fuels and chemical products, cargo exceeding the standard loading gauge in dimensions or weight,  locomotives and rolling stock to repair, examination and testing workshops and complex service of railway sidings in the scope of shunting works and railway logistics.