Asseco sells another 4%in Israeli unit Formula Systems

WSE-listed IT giant Asseco sold an additional 4 percent stake in its Israeli unit Formula Systems to the unit's CEO for PLN 73.57 million. After the transaction, Asseco will control 26.33 percent of the company. Payment will be split in half, with 50 percent paid now and remaining amount to be paid within the next five years, with interest. Earlier this month, Asseco sold 16 percent stake in Formula Systems to a group of local financial institutions for PLN 293 million.