Brief: Work Service Signs Conditional Deal To Sell Its Exact Systems Shares

Gi Poland SA

04/10/2018 16:32

Oct 4 (Reuters) - WORK SERVICE SA  WSEP.WA :
    * SIGNS PRELIM. CONDITIONAL DEAL TO SELL ALL ITS SHARES, 69.09%, IN EXACT
SYSTEMS
SA (EXACT SYSTEMS) FOR 139.8 MILLION ZLOTYS TO SPV COMPANY, REMANGO INVESTMENTS
SP. Z O.O. 
    * PARTIES’ INTENTION IS TO CONCLUDE THE DEFINITIVE SHARE PURCHASE AGREEMENT
BY THE
END OF OCT.
    * UNDER THE DEAL, EXACT SYSTEMS WOULD ALSO BUY SHARES IN EXACT SYSTEMS GMBH 
FOR
15.5 MILLION ZLOTYS PAID AS FOLLOWS: 13 MILLION ZLOTYS IN CASH AND THE REST IN
SHARES (6.99%) OF WORK SERVICE SPV SP. Z O.O. 
    * THE TOTAL CONSIDERATION FOR WORK SERVICE SA WOULD AMOUNT TO 155.3 MILLION
ZLOTYS
    * IN ADDITION, UPON CLOSING THE DEAL, EXACT SYSTEMS WOULD REPAY TO WORK
SERVICE SA
AN OUTSTANDING BALANCE OF INTERCOMPANY PAYABLES
    * INFORMED IN AUGUST IT WAS IN TALKS TO SELL THE SHARES TO REMANGO
INVESTMENTS 
 urn:newsml:reuters.com:*:nFWN1V707C
    * POLAND'S OFFICE OF COMPETITION AND CONSUMER PROTECTION APPROVED THE DEAL
ON
SEPT. 20  urn:newsml:reuters.com:*:nFWN1W60AM

Source text for Eikon:  ID:nEM4qDmbwa 
Further company coverage:  WSEP.WA 

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