Acquisition

Empresaria Group PLC 05 October 2006 Acquisition of Polish staffing companies Empresaria Group plc ('Empresaria') is pleased to announce that, as a further step in line with its strategic objective of building a broad international presence, it has entered into a binding commitment to acquire a 51% shareholding in each of the following companies: ITC PRACA Sp. Z.o.o. ITC APT Sp. Z.o.o. ITC CS Sp. Z.o.o. Based in Krakow, Poland, the companies share a common management team. ITC PRACA is a leading brand in the 'work abroad' market, sourcing Polish workers on behalf of overseas organisations in Western and Southern Europe. In 2005 the company sourced approximately 3,000 workers for the UK and Ireland markets. ITC APT is a temporary staffing company focusing on the Polish local market. ITC CS provides training services to candidates. Through its acquisition of the above companies, Empresaria has also acquired an indirect interest of 25% in Cufik Sp. Z.o.o. Cufik is a candidate care operation, providing Polish contractors and migrant workers with insurance and travel services as well as offering tax consultancy. Empresaria is paying initial consideration of £0.6m for 51% of each of the above businesses with potential further consideration of up to £0.7m payable dependent on financial performance in 2006 and 2007. The current management team retains the balance of the shares in each company. Miles Hunt, Empresaria Chief Executive, commented: 'ITC is a successful, well established, Polish staffing brand. It has strong brand presence in the work abroad market and is enjoying rapid growth in its local Poland based temporary staffing operations. The investment by Empresaria in ITC and its related companies provides direct access to Polish workers to our UK based operations and gives Empresaria exposure to the high growth Polish staffing market. This is another significant step in Empresaria's strategy to become a broadly based international staffing group.' This information is provided by RNS The company news service from the London Stock Exchange
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