CMS advises PFR on joint venture with Famur

Warsaw, 1 December 2017. CMS has advised the Polish Development Fund on the conclusion of a joint venture agreement with Famur concerning a joint investment in Mining Equipment Finance. 

The joint project is to support the mining sector in financing the acquisition of machinery and equipment manufactured by Famur, e.g. through hire or lease. Mining Equipment Finance is primarily focused on the Polish market. At the first stage, each shareholder will contribute approximately PLN 150m to the company. In total, the company will have PLN 300m at its disposal for modernization projects.

The signing of the agreement between PFR and Famur was handled by CMS’ Transactions Team, headed by Jakub Marcinkowski (partner, advocate), supported by Małgorzata Świerczek (associate, legal advisor) and Joanna Białoskórska (associate, legal advisor trainee). 

The Polish Development Fund Group (PFR), in accordance with the Polish government’s Responsible Development Plan, integrates, under a coherent strategy and professional management standards, the following entities: the Industrial Development Agency, Bank Gospodarstwa Krajowego, the Export Credit Insurance Corporation, the Polish Information and Foreign Investment Agency and the Polish Agency for Enterprise Development. The aim of PFR is to provide efficient tools for implementing the development policy and to increase Poland’s investment and economic potential within a single platform of development instruments for business entities, local governments and individuals.