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PWPW signs an agreement with OPTeam on the sale of shares in CRE Polskie ePłatności

On 15 April the Polish Securities Printing Works (WPWP) signed with OPTeam S.A. a conditional preliminary contract on the sale of shares held in CRE Polskie ePłatności S.A. for PLN 70 mln. The Company is one of the important players in the Polish non-cash payment market. The Polish Securities Printing Works and OPTeam were its shareholders up to date.

The transaction concerns shares held by the Polish Securities Printing Works in Polskie ePłatności which account for 50% of the company’s share capital and 58.84% of votes at its General Shareholders’ Meeting. PWPW acted as a financial investor in PeP. The process of sale of PeP shares started in mid-2015 and was finalized in April. Initially, several entities were interested in the transaction but OPTeam finally presented the most favorable offer. The price of PLN 70 million is five times the capital invested by PWPW. The money earned from the sale of PeP shares will be spent on R&D projects, especially those connected with electronic ID card and identity management” says Piotr Woyciechowski, President of the Management Board of PWPW.

The condition precedent to the contract is, among others,  to obtain appropriate corporate consents by the parties. The transaction is scheduled for completion by the end of June.

Polskie ePłatności company was established in 2010. It is engaged in the processing of payments effected by payment cards and provides commercial companies and service providers with terminals for handling such transactions. It has established its position in the market addressing its offer  mainly to small and medium-sized businesses and small and medium-sized retail and service chains. In this way Polskie ePłatności in a relatively short time gained a well-established position in a difficult but very promising market of non-cash payments.

PWPW (Polish Security Printing Works)

1 R. Sanguszki Street
00-222 Warsaw, Poland
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tel. (+48) 22 235 20 00
fax (+48) 22 235 24 50