Global law firm White & Case LLP has advised Comarch S.A. (Comarch) and two of its shareholders from the Filipiak family on a tender offer for the sale of all shares in Comarch and the planned delisting of its shares from the regulated market of the Warsaw Stock Exchange (WSE).
The transaction, which if successful will be one of the largest ever public-to-private transactions on the Polish capital markets, involves a tender offer announced by CVC Capital Partners Fund IX, the Filipiak family and Anna Prokop (the Offerors) to subscribe for the sale of 5,266,072 shares in Comarch. The shares will be acquired by CVC Capital Partners Fund IX-controlled Aspa sp. z o.o.
The notice on the intent to announce the tender offer is the first stage in a planned investment whereby entities controlled by CVC Capital Partners Fund IX will become the majority shareholders in Comarch. The Offerors' intention is to delist Comarch's shares from trading on the WSE's regulated market so that the company continues its growth in the private sector.
Founded in 1993 and listed on the WSE since 1999, Comarch is a global software developer with a presence in more than 100 countries. It specializes in solutions for key sectors of the economy including telecommunications, finance, commerce, industry and public administration.
The White & Case team in Warsaw that advised on the transaction included partner Marcin Studniarek, local partner Bartosz Smardzewski and associates Damian Lubocki and Dawid Książek.
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