FERRO S.A. (WSE:FRO) signed a preliminary agreement to acquire 70.65% stake in Termet S.A. from a group of shareholders for PLN 53.7 million on November 26, 2020. Under the terms of the transaction, the guaranteed amount of PLN 43.8 million payable on the date of closing the sale of the shares and the amount of additional remuneration calculated on the basis of the financial results based on the audited financial statements of Termet for 2020 (Earn-out ), the remuneration of which may not exceed PLN 9.97 million. In a related transaction, FERRO S.A. (WSE:FRO) signed a preliminary agreement to acquire Tester on November 26, 2020. For the year ended 2019, Termet S.A. had net sales revenues of PLN 126.2 million, EBITDA of PLN 9 million and net debt of close to zero. The transaction is conditional on FERRO S.A. obtaining the consent of the President of the Office of Competition and Consumer Protection for a concentration. The Supervisory Board of Ferro SA approved the transaction. The conclusion of the agreement will take place after the fulfillment of the condition suspension, but not earlier than December 30, 2020. The transaction is expected to be closed in the first quarter of 2021. If the condition suspension is not fulfilled by March 31, 2021, the preliminary agreement will be terminated. VCP Polska acted as financial advisor and Miroslaw Fialek of Mrowiec Fialek and Partners acted as legal advisors to FERRO and Filip Uzieblo, Aleksandra Dobrzynska-Grezel, Marek Kanczew, Irmina Watly and Jakub Zagrajek of Rymarz Zdort acted as legal advisor to the sellers. FERRO S.A. (WSE:FRO) completed the acquisition of 70.65% stake in Termet S.A. from a group of shareholders on January 21, 2021. The transaction has been approved by the President of the Office of Competition and Consumer Protection.