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Best SAUPDATE: Kredyt Inkaso's shareholders agree on merger with Best debt collector
The extraordinary general meeting of listed debt collector Kredyt Inkaso has agreed to merge with listed debt collector Best by by transferring all the company's assets to Best in exchange for shares, Kredyt Inkaso said in a market filing.
It was reported that the next step in connection with the merger with Best would be to apply for the suspension of trading in the shares and the delisting of the company's shares.
"This is a historic moment. The path towards the merger - started in 2015 with the purchase of a minority stake in Kredyt Inkaso by Best - is just now finding its finale," said the CEO of Kredyt Inkaso Barbara Rudziks, quoted in the press release.
"Reaching an agreement by the two largest shareholders is the culmination of the review of strategic options, which was a multidimensional, complex and challenging process. It has resulted in the creation of an entity with significantly greater investment opportunities and the chance to realise a number of operational synergies," she added.
In connection with the merger, Best's share capital is to be increased through the issue of 5,828,535 K shares.
For each Kredyt Inkaso share, each eligible Kredyt Inkaso shareholder will be allocated 0.67537 Best shares.
Best shareholders also decided to merge the company with Kredyt Inkaso and to increase the share capital.
In February, Best concluded an investment agreement with Waterland, the dominant shareholder of Kredyt Inkaso, as well as with Krzysztof Borusowski and Marek Kucner, the dominant shareholders and members of Best's management board, prior to the merger of Best and Kredyt Inkaso.
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