ITI Group agrees share buy-back

22.10 Europe/London, November 7, 2011 By Chris Dziadul

Poland’s ITI Group has reached an agreement to buy back the 33% of shares in the company owned by the Wejchert family.
According to the group, the acquisition of the shares, currently held by companies affiliated to Lukasz Wejchert, Agata Wejchert-Dworniak and Victoria Wejchert, is conditional and expected to close concurrently on the signing of definitive agreements by ITI Group to enter into a strategic partnership with Vivendi’s Canal+ Group.
Following the completion of the buy-back, the terms of which ITI Group says are “private and confidential”, the company will be owned by companies affiliated to the families of Mariusz Walter, Bruno Valsangiacomo, Aldona Wejchert and Wojciech Kostrzewa.
Jan Wejchert was one of the co-founders of ITI Group and died in October 2009