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ALSO Holding and MCI Group have launched a tender offer for a sale of 37.1 percent of ABC Data shares at PLN 1.30 per share.

21.12.2018 Download PDF

ALSO Holding and MCI Group called for the sale of 37.1 percent of ABC Data shares, representing votes at the General Meeting of Shareholders for 1.30 PLN per share.

Today, Santander Bank Polska S.A. – Santander Biuro Maklerskie has publicly announced a tender offer to subscribe for the sale of ABC Data S.A. shares. The entities purchasing the shares are MCI Group and ALSO Holding. The offerors intend to purchase up to 46,534,172 shares of the company, representing 37.1 percent of the total number of votes at the General Meeting of the company. The confirmation of the call is subject to customary conditions precedent, including obtaining antimonopoly consent of the European Commission and reaching by two entities calling jointly at least 66 percent shares of the total number of votes at the General Meeting of the company.

ABC Data S.A. is a leader of IT equipment and consumer electronics distribution in the CEE. It operates directly in eight countries of Central and Eastern Europe. The company is systematically expanding its portfolio with products from the area of innovative technologies. ABC Data also has a leading position in the field of online B2B sales. Since 2010, it has been listed on the Warsaw Stock Exchange.

ALSO Holding offers services at all levels of the ICT value chain from a single source. In the European B2B marketplace, ALSO bundles logistics services, financial services, supply services, solution services, digital services, and IT services together into individual service packages. The group operates in 15 countries in Europe.

At the day of tender offer announcement, ALSO did not own any shares of ABC Data, and MCI Venture Projects VI Sp. z o.o. SKA had 60.72 percent shares, constituting 60.72 percent votes at the General Meeting of the company.

The offered price in the tender is PLN 1.30 per one share. The price in the tender offer is 53% higher than the stock price from closing on 20.12.2018, which amounted to PLN 0.85. It is also a bonus of 37% compared to the arithmetic average of the average daily price weighted with the trading volume of 3 months preceding the announcement of tender offer, which is PLN 0.95 and a premium of 3% compared to the arithmetic average of average daily prices weighted with the trading volume from the period of 6 months preceding the announcement of the tender offer, which is PLN 1.26.

Furthermore, in the event of the reaching 90% of the total number of votes at the General Meeting of the company, the offerors intend to launch squeeze out proceedings and subsequently delist the company from the Warsaw Stock Exchange, in accordance with the applicable regulations.

Subscriptions for Shares will be organized by Santander Bank Polska S.A. – Santander Biuro Maklerskie in customer service points between 15.02.2019 and 18.03.2019.

21.12.2018 Download PDF