Friday, July 4, 2008

IT firm Exorigo buys 33% stake in fiscal equipment maker Elzab, merger in pipeline.

Email a Friend

All fields are compulsory

Your name:
Your email:

To include more than one recipient, please separate each email address with a semi-colon ';'

Recipient email(s):

Email yourself a copy?
Comments:

Add Your Comment

All comments are subject to editorial review.
All fields are compulsory

Your name:
Your email:
(will not appear)

You may email your comment to a friend
To include more than one recipient, please separate each email address with a semi-colon ';'

Recipient email(s):

Publish your name?
Receive email notification of new comments posted by other users?
Email yourself a copy?

Comments:

I have read and agree to the Terms and Conditions

IT firm Exorigo buys 33% stake in fiscal equipment maker Elzab, merger in pipeline. Polish provider of IT solutions for the retail industry Exorigo has acquired a 33% stake in listed fiscal equipment maker Elzab from the investment fund BBI Capital NFI in return for a 23.2% stake in Exorigo. By year-end, Exorigo and fiscal equipment provider Upos will hold a 65% stake in Elzab, the companies announced. The transaction is the first step to integrate Exorigo, Upos and Elzab, said Paweł Dudziuk, Exorigo’s CEO and head of Upos supervisory board. He plans to transfer 100% stake in Exorigo and Upos in exchange for a new share issue of Elzab directed to Exorigo and Upos shareholders. The transaction should be completed by the end of the year. Following this, 100% stakes in Exorigo and Upos will be transferred to Elzab in exchange for a new share issue, which should result in the current shareholders of Exorigo and Upos holding a 65.2% stake in Elzab. BBI Capital NFI will hold an 8.6% stake in Elzab after the merger. The current Elzab shareholders will then have 26.2% of the new Elzab's shares. Exorigo and Upos, which have the same shareholders - Dudziuk and another individual investor Eugeniusz Pajączek, had a combined revenue of PLN 98.2mn (EUR 27.45mn) and net profit at PLN 10.8mn (EUR 3.02mn) in 2007. Elzab's revenues last year reached PLN 55.77mn (EUR 15.59mn) with net profit at PLN 5.63mn (EUR 1.57mn).

Sovereign wealth funds

Securitisation is not dead

IT firm Exorigo buys 33% stake in fiscal equipment maker Elzab, merger in pipeline.

Email a Friend

Add Your Comment

Other ISI equities stories

Board stupid

Top 10 financial definitions that are funnier since the credit crunch

Hedge funds seek out Middle East alpha

Fixed-income derivatives rankings - Interest rate derivatives: The rates business rated for 2008

GCC economies: A compelling opportunity for asset managers

Credit default swaps: Monolines face litigious and costly endgame

Plans Look To The New Frontier

Fixed-income derivatives rankings - Interest rate derivatives: The rates business rated for 2008

Infrastructure funding: Experience counts on the road to Farac II

Fixed-income derivatives rankings - Interest rate derivatives: The rates business rated for 2008

And for his next trick… Botín weaves his magic at Santander

Board stupid: The first story revealing the lack of financial expertise among the boards of the world's largest financial institutions

Credit default swaps: Monolines face litigious and costly endgame

Board stupid

Latest Issue