GI International S.R.L. signed a preliminary business agreement to acquire 55.89% stake in Work Service S.A. (WSE:WSE) from its key shareholders for PLN 11 million on January 27, 2020. The offer per share is PLN 0.3. As of February 13, 2020, GI International signed a business agreement to acquire 55.89% stake in Work Service S.A. from its key shareholders for PLN 7.7 million. Under the terms, PLN 0.21 per share will be paid as part of the acquisition. The transaction will be financed through senior debt of PLN 210 million. The shareholders and investor will conduct further negotiations regarding the settlement of the final transaction documentation regarding the sale of the shares on the agreed terms. The transaction is subject to shareholders approval, antitrust approval, due diligence investigation and approval by lenders and creditors. As of February 25, 2020, the investment agreement was fulfilled. As of April 10, 2020, the approval of the Office of Competition and Consumer Protection (UOKiK) was gained. As of April 17, 2020, the transaction was approved by the German antimonopoly body. As of April 24, 2020, GI International has applied to the competent antitrust authority in Serbia regarding the consent for the acquisition of Work Service S.A. As of May 6, 2020, the Romanian antitrust authority is evaluating the transaction with respect to economic concentration. Studio Professionale Associato a Baker & McKenzie acted as legal advisor and Deloitte Advisory Sp. z o.o. acted as accountant for GI International. PricewaterhouseCoopers Sp. z o.o acted as accountant, Blackwood Capital Group (UK) Limited acted as financial advisor and Miroslaw Fialek of Mrowiec Fialek and Partners acted as legal advisor for Work Service. GI International S.R.L. completed the acquisition of 50.71% stake in Work Service S.A. (WSE:WSE) from WorkSource Investments S.a.r.l and other shareholders for PLN 7 million on August 24, 2020. GI International acquired 29.8% stake in Work Service from WorkSource Investments S.a.r.l and others on August 21, 2020. Transaction completion was preceded by confirmatory due diligence, obtaining the consent of the anti-trust authorities, and agreement with the company, shareholders, banks and bondholders on the final transaction documentation.