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Kruk S.A. — M&A Activity 2018
Mar 28, 2018
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M&A Activity
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Current Report No. 11/2018
Date: March 28th 2018
Subject: Accepting an offer to acquire shares in a company operating onthe Italian market
Legal basis: Art. 17.1 of MAR - Inside information
Text of the report:
The Management Board of KRUK S.A. ("KRUK", the "Issuer") announces thaton March 28th 2018 it was notified that the existing shareholder of acompany, operating on the Italian collection market (the "Company"), hadaccepted an offer to acquire 51% of Company's shares (the "Shares").Provisions of the offer assume the target holding of 100% shares in theCompany in the next few months. The Company revenue in 2017 amounted toEUR 3.1m (PLN 13.1m, as translated at the mid-rate quoted by theNational Bank of Poland for March 28th 2018).
The acquisition of the Shares will be in line with the KRUK Group'sstrategy announced for 2015-2019, under which the KRUK Group will seekto grow also through acquisition projects.
The parties have agreed that the Share purchase agreement will be signednot later than May 31st 2018. The agreement will be announced by theIssuer promptly after its execution in another current report.