Remango submits Exact Systems takeover motion

Remango Investments submitted an application to the antitrust watchdog UOKiK regarding the takeover of control over Exact Systems. The application was filed on August 16, the case is pending. Back in May, Work Service signed the framework conditions for the sale of all its 69 percent stake in the Exact Systems Group. Buyers will be managers currently managing the company - Paweł Gos and Lesław Walaszczyk, who currently control 24 percent stake, as well as funds co-managed by CVI Dom Maklerski. Exact Systems is a leading provider of services in the quality control sector for companies operating in the automotive sector. It is present in 11 countries in Europe and in China. Back in 2007, Work Service acquired a 68 percent stake in the company for PLN 9.5 million. The Exact Systems Group operates mainly on the domestic and European market for testing, inspection, and certification, while Exact Systems GmbH operates only in Germany in the field of inspection and repair work for sub-suppliers.