BEST assesses the changes in the shareholder structure of Kredyt Inkaso in a positive way. The tender offer has resulted in the acquisition of a majority interest by a significant international investment fund, which is considered by the company as an opportunity to start a new phase in the development of Kredyt Inkaso, in which it holds 32.99% of shares.
- “I hope that Waterland as a new shareholder will contribute to a new beginning in the history of Kredyt Inkaso. I also believe that after months of stalemate in the company's situation and the lack of appropriate supervision we will be able to think about the future of Kredyt Inkaso together,” - said Krzysztof Borusowski, President of BEST.
As a result of the tender offer announced by Waterland Private Equity Investments, the fund has become the owner of at least 61.16% of Kredyt Inkaso shares. This means that together with BEST, the entities now own more than 94% of the company's shares.
- “Waterland is a professionally managed, international investment fund determined to develop and build the companies' value on the portfolio basis, and this constitutes our prime target. Moreover, we have twenty years of experience in addition to competencies which have helped us to create from scratch one of the leaders on the receivables management market in Poland. These values cannot be overestimated. Therefore, we expect that we will reach consensus with our new partner within the shareholder structure,” - added Krzysztof Borusowski.
BEST has achieved a leading position on the receivables management market in Poland and in recent years has been continuously extending its range of activities. The value of the company on the WSE has increased sixteen times within the last five years.
General information about BEST
BEST S.A. has been listed on the Warsaw Stock Exchange since 1997 and specialises in the trading and management of irregular receivables. The BEST Group invests actively in receivable portfolios (including banking portfolios) with the use of securitisation funds and provides debt recovery services on a contract basis – for the benefit of banks, telecommunications and energy companies, as well as other entities offering mass services.
BEST is also the only shareholder of BEST TFI, which manages investment funds whose assets amount in total to PLN 984 million (as of 30 December 2015). The combination of competencies in the scope of debt collection and the creation and management of investment funds has allowed the company to concentrate all elements constituting the business model into one capital group.
The total nominal amount of own receivables and receivables belonging to other entities managed by BEST is PLN 10.6 billion (as of 30 December 2015). In 2015, the BEST Group generated a net profit of PLN 82.2 million with an operating income of PLN 140.1 million.
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