Benefit withdraws from Calypso takeover

WSE-listed employee benefits program operator Benefit System withdrew its bid for Calypso Fitness, as the conditional takeover deal expired. The company failed to secure antitrust watchdog UOKiK approval for the deal and retracted the motion. Back in November, Benefit signaled UOKiK had reservations concerning the deal claiming that it could limit competition in the markets of sports and recreational packages offered to employers and provide access to sports and leisure services in fitness clubs. In June last year, Benefit increased its stake in Calypso Fitness to 83.4 percent from the previous 50.1 percent, buying the new stake from Lobavio Enterprise Limited, Mikołaj Nawacki and Ilona Nawacka for PLN 81.25 million.