Altus TFI to merge with Esaliens TFI

At the end of May investment fund Altus TFI started negotiations regarding the merger with Esaliens, the company said. Altus TFI will take over the assets of Esaliens TFI. In exchange, Esaliens TF shareholders will receive newly issued Altus TFI shares. The final merger plan will be disclosed in June/July. The deal requires a consent of UOKiK, which should be issued at the turn of July and August. The growing competition in the financial services industry means that the consolidation of investments funds on Polish market is inevitable, the statement said. After the merger investment fund will manage assets for more than PLN 20 billion.