TDJ takes control over majority stake in Kopex

TDJ, the major shareholder of Grupa Famur, has signed a conditional agreement with Krzysztof Jędrzejewski, Kopex's stockholder, to take over a majority stake in peer Kopex. Currently, Krzysztof Jędrzejewski holds 58.6 percent of Kopex, while TDJ controls only 9.99 percent. The agreement has some conditions, including Kopex Group's debt restructuring, the satisfactory results of due diligence audit group and obtaining the consent of antitrust authorities. Kopex had financial difficulties in 2015 (PLN 0.5 billion net loss in Q4). TDJ is a private investment company. Famur is part of TDJ and a leading European manufacturer and supplier of mining machinery and equipment. Kopex-Group offers complex solutions for underground and open-pit mining.