Asseco manages to bring down the price of Prokom

Another PB's data have been confirmed. Not only are the companies going to merge soon, but also the price went down. For the 23.7 per cent Prokom shareholding Asseco is to pay PLN 580m instead of PLN 700m. Moreover, Prokom Investment is obliged to pay Prokom Software all the debts (over PLN 180m) by the end of this year.
At present the prices per share are lower than in the agreed exchange parity. Yesterday at the WSE it was PLN 138 for Prokom and PLN 79 (PLN 152.6 and PLN 83 respectively in the parity). However, owing to the better price of purchase, Asseco's index added 9.3 per cent.
"In a few months we'll prove that Prokom is worth its price, or even the initial one. We'll be Europe's seventh company. Thanks to the merger will be be able to increase our profit significantly", says Adam Goral, the CEO in Asseco.
In its plans Asseco has 10 investments in European companies. According to Piotr Jelenski, the vice CEO, these projects, including Prokom, are worth PLN 1 billion.
The enterprises want to merge as soon as possible. Although some of the conditions are still being negotiated, the PB's sources inform the contract could be signed any day now. However, Prokom wants to wait for its half-year report to be published first.
"The contract should be signed around September 30th," says Adam Goral.
He assures that the merger is not a threat to valuable Prokom's employees who has been creating the company.
After the merger the name of Prokom will vanish from the market. The new enterprise will be the Poland's biggest IT company aiming to become a central European giant.
Asseco is a well developing company built by Adam Goral, with numerous own IT solutions in the portfolio. Its rapid growth started after the company had been listed on the WSE and took over Softbank, the provider of IT support in PKO BP. Prokom will give the group vast possibilities on the public market as its clients inlude ZUS, Poczta Polska, PZU, and KGHM.
 
(PLN 1 - EUR 0.265)