On 30 July 2009, MIH Allegro (subsidiary of Naspers Ltd.) announced it met the criterion being the condition to complete the offer successfully, i.e. the company purchased at least 67% of shares in Bankier.pl
The call to enroll in the sale of 100% shares of Bankier.pl was announced on 9 June. At first, the price offered by Naspers was PLN 8.70 then it rose to PLN 9.00. It is also significant that on 7 July 2009, the company paid dividends in the amount PLN 0.39 per one share. On 9 June 2009, MCI Capital TFI, acting on behalf of MCI Private Ventures FIZ, concluded an agreement to sell by MCI the whole share package of 18.4% in Bankier.pl SA to MIH Allegro B.V. For MCI the sale of the whole share package in Bankier.pl means a full exit from the investment.
Bankier.pl is one of MCIâs oldest investments, operated from start-up phase (2000). Already in 2004, Bankier.pl reached breakeven-point and in 2006, it met all the criteria to become a public listed company. It was then that MCI introduced Bankier to the primary market on WSE, while making a partial exit, which generated IRR of 31.81%. The present â full â exit will bring MCI returns of 30.91%, i.e. 4.8x invested capital. The operating result will not be influenced, however, because the value of the transaction was included in the valuation of the fund for Q2 this year.
âNews of the success of the call to sell shares of Bankier.pl makes us happy. As we can see, even in the tough market situation of today, we are able to execute successful investment exits. We are also glad that due to the professionalism shown in handling the sale process all shareholders of Bankier had equal chances to participate in the transaction and exit the investment on the same terms as MCI.â â said Konrad Sitnik, Vice-President of MCI Management SA.
MIH Allegro is an investment vehicle owned by Myriad International Holdings B.V., a holding company and direct subsidiary of the company listed on stock exchanges in Johannesburg and London, Naspers Limited. The Naspers Group controls, among others, the Allegro Group and GG Network SA (provider of Gadu-Gadu instant messenger and other online services).