TDJ takes control over majority stake in peer Kopex

TDJ, the major shareholder of Grupa Famur, 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 is conditioned, including Kopex Group debt restructuring, satisfactory results of due diligence audit group; obtaining the consent of antitrust authorities concentration. Kopex had the financial difficulties in 2015 (PLN 0.5 billion net loss in Q4). TDJ is a private investment company. Famur is a part of TDJ and a leading European manufacturer and supplier of mining machinery and equipment. The Kopex-Group offers complex solutions for underground and open-pit mining.