CVC Capital Partners in Bid to Buyout and Delist Polish Software Company Comarch
- Bid is 10% above last close, values Comarch at $654 million
- CVC and partners seek to boost Comarch’s expansion abroad
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Private equity fund CVC Capital Partners and some shareholders of Comarch SA announced plans to buyout and delist the Polish software firm. In response, the target’s shares jumped to a record.
In a planned bid that values Comarch at 2.57 billion zloty ($654 million), CVC and the Polish company’s founding family, including Chief Executive Officer Anna Pruska, jointly said on Wednesday they intend to offer 315.4 zloty per Comarch share, 10% above Tuesday’s close. The stock jumped by as much as 15%, advancing to the highest level since its 1999 listing.