ALSO's mammoth takeover of €1bn-revenue distributor ABC Data has finally been given the green light, catapulting it into four new CEE countries.
The European Commission has given "unconditional consent" for the takeover, with ALSO claiming it's "pushing ahead" with its eastern European expansion strategy.
The Swiss distributor submitted its tender offer to acquire PLN 4.47bn (€1.05bn) CEE player ABC Data in January.
But the deal's closing date has been pushed back twice, as it failed to meet legal conditions laid out by the transaction's framework agreement. It was originally slated to close on 18 March, but was pushed back to 17 April.
CPI found out that ABC Data was even doubting whether the sale would go ahead, after one of its largest shareholders, PZU Pension Company, said ALSO's price was too low, and proceeded to sue ABC Data over its acceptance of the acquisition's terms.
A source at the time told CPI that it was still waiting for consent from the European Commission, and that approval could take weeks.
Acquiring ABC Data adds four new countries to ALSO's operations: Czech Republic, Slovakia, Romania and Hungary, while strengthening its existing business in Poland and Lithuania.
The acquisition of ABC Data is the largest of several deals ALSO has made in eastern Europe as of late. It snapped up €110m-turnover Bulgarian player Solytron in April, adding 120 staff to the firm. Last year it also bought €80m-turnover Slovenian player DISS Group, followed by €40m player RECRO in Croatia.
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