A preliminary agreement for the purchase of 29.43 percent of shares in Kredyt Inkaso S.A. (Kredyt Inkaso) for PLN 152.3 million was signed by Best S.A. (Best) on 10 September. The company is planning to increase its stake in Kredyt Inkaso to nearly 33 percent soon.
As announced by Best in a press release, the company is considering greater involvement in the shareholding structure of the debt collection company. "Our intention is to establish a very strong player on the market of debt management in our part of Europe" said Krzysztof Borusowski, the CEO of Best.
After the two transactions are finalised, Best's share in Kredyt Inkaso's share capital and the total number of votes at the General Meeting will be close to 33%. Thereby, Best will become the biggest shareholder in the listed debt collection company. As announced by Best, its objective is to establish an entity whose value will be much greater than the combined value of the two companies operating separately and competing with each other.
The Polish branch of Haitong Bank is advising Best on this transaction. "This is globally the first transaction under the new brand Haitong Bank since the Chinese investor completed its purchase of BESI. Thereby, we confirm that through this transaction Haitong is initiating its operations in Poland leveraging on its established position developed by a team of 60 local experts in various areas of investment banking over the past 8 years of development" said Bartłomiej Dmitruk, Deputy Senior Country Officer for Haitong Bank in Poland.
Haitong is the first Asia-based global capital markets player, with a well-established investment banking operation in Poland. Haitong ownership is an important differentiator in the Polish market, leveraging on the owner’s brokerage experience from China stock exchange markets and on a strong capitalisation of the Group. Haitong will fill an important niche in investment banking services, building a bridge between Chinese and CEE markets.