BEST S.A. made a tender offer to acquire an additional 33.01% stake in Kredyt Inkaso S.A. from Waterland Private Equity Fund VI C.V. managed by Waterland Private Equity Investments BV and others for PLN 93.9 million.

BEST S.A. (WSE:BST) made a tender offer to acquire an additional 33.01% stake in Kredyt Inkaso S.A. (WSE:KRI) from Waterland Private Equity Fund VI C.V. managed by Waterland Private Equity Investments BV and others for PLN 93.9 million on July 10, 2017. As reported, BEST S.A offered to acquire 4.27 million shares of Kredyt Inkaso at a price of PLN 22 per share. The offer will go through if BEST S.A. acquires at least 3.49 million shares of Kredyt Inkaso.

The tender offer period will run from August 1, 2017 to August 14, 2017. DM BPS acted as manager to the offer. As on July 28, 2017, Waterland said that the offer price of PLN 22 per share does not reflect the fair price, as a result Waterland will not tender the shares in the offer.

As on August 14, 2017, the subscription period has been extended till August 17, 2017. As on August 16, 2017, the deal received an unconditional consent of the President of the Office of Competition and Consumer Protection. As on August 17, 2017, 6,094 of the Kredyt Inkaso's shares were subscribed for, which means the condition of minimum tender is not fulfilled.

As a result, the acquisition transaction for the Kredyt Inkaso's shares subscribed for under tender offer will be concluded by August 22, 2017 and settled by August 24, 2017.