Best enters agreement with Kredyt Inkaso's shareholder on potential merger

Listed debt collector Best Group has entered into a cooperation agreement with WPEF VI Holding 5 B.V., a shareholder of listed debt collector Kredyt Inkaso, under which a potential merger of Best and Kredyt Inkaso will be negotiated, Best said in a market filing. The original plan was for Best to acquire shares in Kredyt Inkaso.

"The negotiated potential merger would be carried out by transferring all of Kredyt Inkaso's assets to Best in exchange for Best shares granted to Kredyt Inkaso shareholders," it was written.

"Specifically, in the agreement, the parties agreed that they would negotiate to establish the terms and conditions of the potential merger and undertake work to agree and conclude the transaction documentation related to the potential merger," the filing added.

It was pointed out that the conclusion of the agreement is another step in the implementation of Best's consistently maintained intention to merge the company with Kredyt Inkaso.

"The possible conclusion of the transaction documentation relating to the potential merger is subject to a number of factors," the filing wrote.

"There is no certainty that the signing and execution of the agreement will lead to an agreement on the terms of the transaction, including with respect to its exact course and pricing parameters, and when this may occur," it added.

In May, Best reported that it had made an offer to purchase Kredyt Inkaso shares directly from its shareholder WPEF VI Holding 5 B.V.

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