Q: Hi, Could you please comment on topicus acquires 9.99% Stake in Asseco Poland S.A.
thank you
thank you
5i Research Answer:
TOI has acquired 9.99% and has signed a deal that could give it 28% of the company. It says it does not plan a bid for the public shares. The agreement also calls for a CEO succession at Asseco. While maybe not a 'typical' TOI deal for a whole company, we think it makes sense. Economically, Poland is doing very well, and TOI has a seat at the table to possibly buy more, one day. It also can give it guidance on how to improve its growth and cash flow profile.