Tebesa Sp. z o.o. signed a letter of intent to acquire 63.17% stake in Novita S.A. (WSE:NVT) from Zaklady Lentex Spólka Akcyjna (WSE:LTX) for PLN 82.8 million on April 27, 2016. Tebesa will acquire 1.58 million shares of Novita S.A for PLN 52.4 per share. On July 26, 2016, Lentex and Tebesa signed an agreement to acquire agreement 63.17% stake in Novita S.A. and revised the purchase price to PLN 53 per share. Tebesa will acquire 63.17% stake in Novita S.A. for PLN 83.7 million. The transaction is subject to consummation of due diligence and regulatory approval. The offer will be launched no later than June 30, 2016. Proceeds from the sale will be used by Lentex for share buy-back. The transaction is expected to close on August 1, 2016. Jorge Abugaber of IMAP M&A Consultants AG acted as financial advisor to Tebesa.

Tebesa Sp. z o.o. completed the acquisition of 63.17% stake in Novita S.A. (WSE:NVT) from Lentex S.A. (WSE:LTX) on August 1, 2016.