CEE's biggest IT firm Asseco Poland is holding advanced acquisition talks with eight European companies, the firm's issue prospectus reveals. Four of the companies operate in northern Europe, and then one each in the following countries: Germany, Switzerland, Spain and Portugal. In each case the talks are about acquiring between a 51% and a 80% stake, with the minority stakes to remain in the hands of the current owners, who will remain the shareholders in the firms and will take part in managing them in order to make use of their knowledge of clients and local markets, the firm said in its SPO prospectus. The revenues of the targeted firms vary between EUR 3mn and EUR 20mn; all of the firms are profitable. Asseco Poland is offering 5.433mn J series shares in a rights issue. The issue price is set at PLN 50 (EUR 12.6) per share . The funds are to be used in part to finance the takeover of the Israeli IT group Formula Systems, which Asseco states will cost no more than USD 145.3mn. Asseco Poland reported revenue of PLN 1.452mn (EUR 365mn) and net profit of PLN 205.42mn (EUR 52mn) in H1/2010. ISB |
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