The shareholders of the Olavion railway company have concluded a conditional preliminary agreement under which 100% of shares in the company are to be purchased by the Unimot Group, an independent importer of fuels. The legal side of the transaction on the part of the owners of Olavion is supervised by Loewen Legal Hub.
Olavion provides rail transport services in Poland, as well as forwarding services both in Poland and abroad. The company has 16 locomotives at its disposal and employs 69 employees, including 42 locomotive drivers. Only in 2022, the company transported goods with a total weight of 1.1 million tons, and its annual transport potential is estimated at approximately 1.5 million tons.
On the basis of the preliminary agreement, the parties agreed to conclude two promissory share sale agreements of 100 % of the Olavion shares. The first agreement will be concluded with two natural persons, including the majority shareholder, and will cover 90% of the Olavion shares. The condition of sale in this case is, among other things, consent of President of the Office of Competition and Consumer Protection and the conclusion of a long-term transport contract between Unimot Paliwa and Olavion. The conditions must be met by the end of June 2023.
The remaining 10 % of the shares owned by the carrier’s management staff will have been sold no later than by July 7, 2025.
The shareholders of Olavion in this transaction are represented by lawyers from Loewen Legal Hub: advocate Szymon Kaczmarek and attorney-at-law Artur Zawadowski.