Rail cargo operator PKP Cargo and Czech company Minezit SE agreed to work on a joint-venture in the field of rolling stock leasing as a means to settle the EUR 27 million put option on the 20% of PKP Cargo’s Czech unit AWT. If one of the sides withdraws from the deal, PKP Cargo will pay the EUR 27 million sum within 20 days since terminating the agreement.
Terms of the project should be set by end-September 2017 and the project should be implemented by the end of December. Each of the sides can withdraw from these deadlines are not met.
In early May PKP Cargo said it was hit with a EUR 27 million put option on the 20% of AWT it does not currently own. Partner Minezit SE (MSE) placed its put in line with terms from their late 2014 investment agreement in the Czech transport company.
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