Polish Enterprise Fund VIII managed by Enterprise Investors Corporation made a tender offer to acquire PragmaGO S.A. from Pragma Inkaso S.A. and other shareholders.

Polish Enterprise Fund VIII managed by Enterprise Investors Corporation made a tender offer to acquire PragmaGO S.A. (WSE:PRF) from Pragma Inkaso S.A. (WSE:PRI) and other shareholders on November 26, 2020. Polish Enterprise Fund VIII will acquire 2.8 million shares. Deal price under tender offer for PragmaGO to be PLN 18.1 per registered share and PLN 24.5 per bearer share.

Bearer shares held by Pragma Inkaso will be PLN 18.1 per share and the maximum value of the tender offer is PLN 53.2 million. Pragma Inkaso will offer 1.8 million shares in PragmaGO in the tender offer. As of December 21, 2020, Pragma Inkaso S.A. submitted subscriptions for the sale of 703,324 registered shares of PragmaGO SA and 1,083,754 bearer shares of PragmaGO SA entitling to approximately 72.07% of votes at the general meeting of the company.

Tomasz Boduszek, Chief Executive Officer will not offer stake in PragmaGO under tender offer. Enterprise Investors intends to delist PragmaGO. The offer will run from December 16, 2020 till January 29, 2021.

Marcin Studniarek and Rafal Kaminski of White & Case LLP acted as legal advisors to Enterprise Investors Corporation. Agata Kowalska, Wojcieh Chabasiewicz, Antoni Liskiewicz and Anita Gwozdz of Chabasiewicz Kowalska i Partnerzy acted as legal advisors to PragmaGO S.A.