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Comarch SAComarch IT shareholders and CVC launch tender offer at PLN 315.4 per share
Listed IT group Comarch's group of shareholders and CVC Capital Partners Fund IX launch a tender offer for 5,266,072 Comarch shares, representing 34.81 percent of the total number of votes in the company, at PLN 315.4 (EUR 73.3) per share, tender manager Trigon brokerage informed.
The acquirer of the shares in the tender is Chamonix Investments Poland, controlled by CVC Capital Partners Fund IX.
Accepting tenders will begin on August 13, and conclude on October 21.
The purpose of the transaction is for the bidders to achieve 100 percent of the total voting rights in the company in order to delist its shares from the regulated market and enable its further development as a private company.
The Filipiak family, Michal Pruski (Comarch's COO) and Anna Prokop have committed to sell to CVC all their bearer shares in the company at tender price after the bid is completed.
As part of their reinvestment, Elżbieta Filipiak (head of Comarch's supervisory board), Anna Pruska (Comarch's CEO), Maria Filipiak and Janusz Jeremiasz Filipiak will become minority shareholders of Chamonix Investments (controlled by CVC Capital Partners Fund IX) following the transfer of all their preferred shares in the company in exchange for Chamonix Investments' equity instruments.
"Comarch is a strong Polish brand that we want to develop globally based on its Polish roots and strong team. The timing is good because the sector is undergoing a major transformation," CVC Capital Partners partner Krzysztof Krawczyk said, quoted in the press release.
"It can be used for further accelerated growth. We are ready to commit significant financial resources and leverage our global experience," he added.
At the close of trading on Monday, Comarch's share price was at PLN 318 (EUR 73.9).
The Comarch Group is a global provider of business IT solutions that support end-to-end customer relationships and optimise operations and business processes. The company has been listed on the WSE since 1999.
CVC Capital Partners is a private equity firm, listed on the Amsterdam Stock Exchange, with a network of 29 offices in Europe, Asia and the United States, managing approximately EUR 193 billion in assets. In Poland, the fund has invested in PKP Energetyka (acquired by PGE in 2023), Zabka and Stock Spirits.
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