Integer with new investor. Plans delisting

Parcel locker operator Integer has signed a deal with equity fund Advent International to buy the outstanding 70 percent stake of the company and delist it from the Warsaw Stock Exchange, the company's CEO Rafał Brzoska said in a market filing. Brzoska, who owns 30 percent of the company's stake and Advent announced a tender offer for the remaining 70 percent shares at PLN 41.1 apiece. “ The short-term goal of the transaction is the firms' delisting, repayment of liabilities towards banks and bondholders and building a strong capital group,” the statement said. Advent also announced a bid for Integer's postal unit inPost at PLN 9.5 apiece, worth PLN 110 million. “Over the longer-term, Advent believes Integer can develop into a profitable Group, with a best-in-class customer service proposition and an unparalleled network of parcel lockers close to every doorstep in Poland. Achieving that ambition will require material new investment and Advent is providing around PLN 500 million of new capital for the Group to support this and to service its financial indebtedness. Advent will also leverage its long track record of supporting international B2B and B2C services businesses, to support the Company as it looks to build and strengthen its presence in international markets,” the statement said. Subscriptions for Integer will run between March 16 and April 19, 2017, while subscriptions in the InPost tender offer will run from March 16 to April 20, 2017.