Polish company OT Logistics signed a letter of intent with Jarpid Investment for the acquisition of a 100% stake in Polish railway operator STK Group. STK Group comprises two companies: STK and Kolej Baltycka, specializing in rail freight transport and service of railway sidings. Both companies are licensed railway operators. STK Group generates annual revenue of around PLN 80m (USD 20.3m).
Following the letter of intent, the parties intend to enter into a preliminary agreement for the sale. The transaction could be settled partially by the contribution of Jarpid Investment into the shares of OT Logistics. The planned acquisition is part of OT Logistics’ new strategy to develop its railway transport activities.
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