Polish investment fund managers Altus Towarzystwo Funduszy Inwestycyjnych SA and Esaliens TFI agreed to launch activities that could result in a potential merger.
As part of the merger, the entire assets of Esaliens TFI would be transferred to Altus TFI, while the latter company would issue new shares to be offered to Esaliens TFI shareholders.
The asset managers hope to reach an agreement on a merger plan in early July at the latest and finalize the merger in October or November, creating an entity with over 20 billion Polish zlotys worth of AUM.
The planned merger will require the approval of the companies' shareholders and the Polish Office of Competition and Consumer Protection, Altus noted.
As of June 8, US$1 was equivalent to 3.64 Polish zlotys.
