RUCH S.A. has been engaged in intense activities with its creditors, publishers associated in the Board of Press Publishers Chamber (“IWP”), and Alior Bank for past few weeks, with the view to agree on a restructuring plan without resorting to the court. According to all analyses this is the most effective and safest restructuring route for the creditors as well as the Company. The publishers, Alior Bank and RUCH S.A. entrusted the preparation of the restructuring plan to a reputed auditing firm specialising in projects of this type, KPMG. On 23 August 2018 a phase I report of the project was prepared by KPMG, and a phase II report is due to be ready on 25 September, presenting a framework business plan and recommendations as to the restructuring directions. On the other hand, on 24 August the publishers addressed a letter to Alior Bank, outlining a proposal of key terms and conditions of a creditors’ agreement until the final restructuring plan is developed. RUCH S.A. underlines that its purpose is to draw up a plan which will enable full repayment of its debt over the next few years.
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Thanks to the signing of the new framework contract, the sellers receive from the Allegro a network of 3700 pick-up points managed by RUCH S.A. The network enables the dispatch and pick-up through ’Paczka w Ruchu’ service.
‘Paczki w Ruchu’ network has over 3700 well-located Pick-Up locations. The growing number of Clients prefer to get parcels in person rather than waiting at home or in the office. It is simply more convenient.
KCI S.A., the main shareholder of Gremi Media SA, acquired a 5% stake in Lurena Investments, a holding company RUCH S.A. In turn, Loverose Ltd., the company’s main shareholder RUCH S.A., purchased a 5% stake in Gremi Media S.A.
The transaction is aimed at developing cooperation between entities. It lasts from 2014, when RUCH S.A. has become a significant shareholder of the e-Kiosk S.A. the company operating within the Gremi group, the leader in the distribution of digital press. Both companies also intensively cooperate on the press and digital subscription market in Poland.
The previous owner of RUCH S.A., Eton Park Capital Management, decided in March this year to liquidate its activities, including the withdrawal from RUCH S.A. Eton Park and Chairman of the Board of RUCH S.A. Igor Chalupec signed a letter of intent assuming the takeover of the Company.