White & Case advises Asseco Poland on PLN 1 billion sale of treasury shares to Total Specific Solutions

Global law firm White & Case LLP has advised Asseco Poland S.A. and the Adam Góral Family Foundation on the sale of 12,318,863 treasury shares held by Asseco Poland to Yukon Niebieski Kapital B.V., a subsidiary of European software group Total Specific Solutions (TSS), as well as the conclusion of a shareholders agreement between the Adam Góral Family Foundation and TSS aimed at fostering collaboration for the continued development of the Asseco Group.

The shares are valued at over PLN 1.047 billion and represent 14.84 percent of Asseco Poland’s total capital, with a sale price established at PLN 85 per share. Upon completion of the transaction, TSS will own 20,618,892 shares, representing 24.84 percent of Asseco Poland’s capital. The completion of the transaction is contingent upon obtaining the necessary regulatory and antitrust approvals.

Established over 30 years ago, Asseco Poland is the largest software company in Poland and Central & Eastern Europe. The company employs nearly 34,000 people and operates in over 60 countries worldwide. Asseco's subsidiaries are publicly traded on the Warsaw Stock Exchange, NASDAQ and the Tel Aviv Stock Exchange. The investment by TSS, a significant European partner and industry investor, aims to accelerate growth and enable the further expansion of Asseco Group’s business operations.

The deal is one of the two largest transactions in the software sector in Central & Eastern Europe in the last two years, both of which White & Case advised on.

The White & Case team that advised on the transaction included partner Marcin Studniarek, local partners Bartosz Smardzewski and Jakub Gubański and associates Damian Lubocki, Dawid Książek and Iwo Małobęcki.

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