act BSWW has advised Moderna Holding sp. z o.o. on the acquisition of 100% shares in Przedsiębiorstwo Budowlane “KOKOSZKI” S.A., a Gdańsk-based developer company. This purchase is a part of Moderna’s development strategy, seeking to secure a wider range of services and a stronger position as a leader in the Tri-City’s developer market.
Following the transaction, Moderna’s portfolio features a usable residential area of 150k square meters, making it the leader in the Tri-City market. So far, Moderna has been pursuing high-end investments in multi-family and office buildings segment of the Tri-City and Warsaw market. The recent deal has expanded the company’s portfolio with a complementary developer project segment.
Moderna and Kokoszki will continue to operate as separate entities under the umbrella of Moderna Holding.
“Both companies have a similar organizational chart and operate within the same multi-family and office building segment, but have different target groups,” says Adam Małaczek, President of Moderna Holding Management Board. “We have gained immense potential to increase stability and liquidity of project implementation which, in light of complex administrative and civil regulations, will facilitate flexible process management and give us an edge over our competition. In the end, it is the buyers of standard and high-end apartments who will benefit the most from the transaction,” he adds.
Piotr Smołuch (Managing Partner) led the team of lawyers advising on the transaction. The team was made up of Jakub Salwa (Partner) and Michał Pawlak (Senior Associate).
The scope of legal services provided by the law firm covered a due diligence audit of the acquired company and its assets.
“This is yet another transaction in which we have supported Moderna. We are glad to have been able to take part in one of our Client’s key projects,” said Piotr Smołuch.
Moderna’s portfolio includes many appealing projects, such as BALTIQ PLAZA, Front Park, Oliwski Park i Oliwa 505 and Złota Chmielna Apartments. A few other investments in Gdynia, Gdańsk and Warsaw (Powiśle and Praga neighborhoods) are pending completion. Some of the most notable projects implemented by Kokoszki include the Sadowa and Niepołomicka residential estates, as well as Kokoszki Office.
Kokoszki has been operating since 1969, over time building an impressive portfolio of successful projects, including dozens of residential, special-use and commercial buildings, with the Baltic Philharmonic and Opera among them.