UOKiK greenlights Robyg takeover

Antitrust watchdog UOKiK approved the takeover of the WSE-listed real estate developer Robyg by Bricks Acquisition Limited, a unit of Goldman Sachs, the company said in a market filing. Bricks announced a tender offer for 100 percent of Robyg shares (289 million) at PLN 3.55 apiece. The offer will go through if at least at least 66 percent of shares are tendered. The company’s management board members, Oscar Kazanelson and Alex Goor pledged to sell their shares to Bricks Acquisition. The tender runs from January 2-February 2 and securing UOKiK consent was one of its conditions. Another one is the appointment of at least three supervisory board members indicated by the investor once it buys at least 51 percent stake.