Elemental Holding S.A. (WSE:EMT) agreed to acquire 69.3% stake in Elemental Asia S.A. (WSE:EMA) on May 8, 2020. As part of the acquisition, Engel Foreign Food BV will sell not less than 3,061,671 and not more than 4,162,900 ordinary shares in the share capital of Elemental Asia. After fulfilling the conditions set out in the agreement, the parties will conclude an agreement that will specify the number of shares being the subject of the sale, as well as the selling price.

The parties have agreed that the disposal agreement will be concluded after all the conditions set out in the agreement have been met, no later than by April 30, 2021.