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IZO-BLOK has successfully completed the due diligence of SSW PearlFoam

IZO-BLOK has successfully completed the due diligence review of SSW PearlFoam GmbH. The German company is currently owned by the SSW Industries fund. Both sides signed up an agreement which gives IZO-BLOK exclusive rights to continue negotiations regarding the acquisition of 100% shares of SSW PearlFoam.

The result of the due diligence review is positive. However, some of the issues under review are still the subject of detailed verifications and clarifications. The closing of negotiations aimed at the acquisition of 100% shares of SSW PearlFoam by IZO-BLOK is planned still for February 2016.

We have concluded the due diligence review and we are happy with the results. We are still facing issues related to clarification of the final financing conditions and structure. We would like to close the negotiations still this month. I hope this will be possible – explains Przemysław Skrzydlak, CEO of IZO-BLOK S.A.

IZO-BLOK S.A. is considering the public issuance of shares in relation to the planned acquisition. If the transaction is successful, IZO-BLOK plans to allocate all resources obtained from the issuance to the partial financing of the acquisition of the German company. Details regarding possible issuance will be announced in the notice regarding the Extraordinary General Meeting of Shareholders.