Columbus Energy S.A. (WSE:CLC) signed a conditional agreement to acquire Vortex Energy – Obrót Sp. z o.o. from VH Invest AG for PLN 1.7 million on February 2, 2021. Under the terms of agreement, Columbus will acquire 1,700 shares of Vortex energy. The conclusion of the Agreement has the effect of a conditional agreement and in accordance with its provisions, the Shares and the rights arising therefrom will pass from the Seller to Columbus  on the date of fulfillment of the condition precedent i.e. the issuance of the unconditional consent of the President of the Office of Competition and Consumer Protection for the concentration consisting in the acquisition of 100% of the Shares by Columbus. If the Condition Suspension is not fulfilled within 6 months from the date of the Agreement, Columbus is obliged to conclude an agreement with a third party (hereinafter: the Agreement) within the next 60 days, under which it will transfer the rights and obligations under the Agreement (for which the Seller should consent). If the Seller fails to agree to the Agreement for a period longer than 60 calendar days, Columbus will be entitled to claim from the Seller a contractual penalty in the amount of PLN 500,000.. The parties are responsible for non-performance or improper performance of any of the obligations of a given Party under the Agreement or breach of any representations or warranties made by the Parties to the Agreement, with the obligation to repair the resulting damage. Liability for breaches of the Agreement as a warranty liability. The Seller's liability for all claims of Columbus, on any legal basis, both current and future, that have arisen or may have arisen in connection with the conclusion or performance of the Agreement is limited to the total amount of 100% of the Sale Price, for each claim separately and for all claims jointly (this liability expires after 4 years from the date of signing the Agreement). Columbus is entitled to withdraw from the Agreement in the event that the value of the net assets disclosed in the Vortex financial statements is more than 15% lower than the level presented by the Seller in connection with the signing of the Agreement or in the event of a culpable, gross or persistent breach by the Seller obligations under the Agreement. In turn, the Seller is entitled to withdraw from the Agreement in the event of Columbus' delay in paying the Sale Price by more than 3 (three) business days.  The transaction is subject to approval by the Office for Competition and Consumer Protection in Poland. In the event of failure to fulfill the Condition Suspension or failure to provide the Seller with information on the transfer of rights and obligations under the Agreement by November 30, 2021, the Agreement shall be terminated, with the proviso that the Seller is entitled to retain the entire Sale Price. MAYLAND AG acted as financial advisor to VH Invest AG in transaction. Columbus Energy S.A. (WSE:CLC) completed the acquisition of Vortex Energy – Obrót Sp. z o.o. from VH Invest AG on April 26, 2021. The transaction has been approved by Competition and Consumer Protection on April 26, 2021.