EL7.AI
Mergers & AcquisitionsMedium•28 October 2026•
3 min read

ZARMEN Targets 100% Stake in Remak and Seeks to Delist It

Key Facts

1ZARMEN aims to acquire 100% of Remak’s shares, equivalent to 3,000,000 shares and 3,000,000 votes.
2Remak learned of the publication of ZARMEN’s offer on October 27, 2026.
3The subscription period runs from October 28 to November 26, 2026, with execution expected on December 1 and settlement on December 3.
4The stock rose 95% to 19.55 zlotys in the afternoon session on October 5, according to Parkiet.
5The company posted a net loss of 11,679 thousand zlotys and a 35.3% decline in revenue in the first half of 2026.

Remak-Energomontaż said it learned on October 27, 2026, that the Polish Press Agency had published a tender offer for its shares submitted by ZARMEN, in a move aimed at transferring the company to full ownership by the buyer. In its notice, the company said it had received information about the publication of the announcement, while the offer document sets out ZARMEN’s goal of reaching 100% of the shares, equivalent to 3,000,000 shares and 3,000,000 votes. The offer details correct the picture in the previous version, which described it as a general effort to increase the stake or gain control. The offer documents indicate that the plan includes withdrawing the shares from trading on the regulated market. The announcement of the offer does not mean shareholders have accepted it or that ownership has been transferred; that remains contingent on the subscription process and execution under the transaction terms.

According to the offer document, as reported by Parkiet, the delisting objective accompanies ZARMEN’s effort to own all the shares, making the outcome of shareholders’ subscriptions the focus of the next step. If the acquisition and announced procedure are completed, this objective would bring trading in the shares on the regulated market to a possible end, but it does not establish that delisting has already taken place. The official announcement follows an earlier report of notable share-price movement in the October 5 session, after the planned offer was announced. The newspaper said the stock rose 95% after 12 p.m., reaching 19.55 zlotys at the time. This is a dated snapshot of trading and does not represent a live price when the company’s notice was published on October 27.

The offer schedule set the subscription period from October 28 to November 26, 2026, according to information from brokerage Dom Maklerski BDM. The share purchase is scheduled for December 1, with settlement on December 3, according to the published timetable. These dates provide a timeline for shareholders wishing to participate, followed by the transfer of shares if the transaction proceeds to completion. The information published in this schedule is limited to dates and does not include further details here on the number of shares offered or the terms for accepting them. The upcoming dates therefore remain the specified milestones in the offer process, while the subscription outcome is still undecided.

The takeover attempt comes as Remak has faced operational and financial pressure, according to figures reported by Parkiet for the first half of 2026. The company posted a net loss of 11,679 thousand zlotys, while revenue fell 35.3% from the corresponding period, the report said. The newspaper also reported that the remaining work on the Olefins project, carried out for a consortium of Hyundai Engineering Poland and Técnicas Reunidas, was expected to continue into 2027. This adds operational context to an offer aimed at consolidating all shares under ZARMEN, without by itself establishing a causal link between the company’s performance and the decision to make the offer. The offer announcement put the stock in the spotlight in October, after it recorded a sharp rise in the October 5 session, according to prices cited by the newspaper.