Investment fund Agista announces exit from IT company Dendrio at 22% IRR
<p>The Agista investment fund announced that it is exiting Dendrio Solutions, an IT company controlled by Bucharest Exchange-listed Bittnet Systems, with a yield of 60% and an Internal Rate of Return (IRR) of 22%, achieved over a period of two and a half years.</p>

<p>Bittnet Systems announced that it purchased an 11.78% stake in Dendrio from Agista for RON 16.8 mln, <a href="https://www.economica.net/agista-iese-din-actionariatul-companiei-it-dendrio-controlata-de-bittnet-systems-si-preia-in-schimb-pachetul-majoritar-la-fort_779588.html?mc_cid=62ce6936be&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Economica.net</a> reported. The price was set in line with Dendrio’s evaluation (RON 142 mln), which resulted from the capital increase operated earlier this year.</p>

<p>Subsequent to the exit, Agista increased its stake in cybersecurity company Fort – also in the portfolio of Bittnet Systems. Bittnet Systems announced it sold its entire participation of 58.9% in Fortum to Agista and Impetum Investments for RON 23.5 mln.&nbsp;</p>

<p>Following the deal, Agista increased its stake in Fort from 4.4% to 38% and, together with Impetum Investments, became the majority shareholder with a total stake of 63.3%.</p>

<p><em>iulian@romania-insider.com</em></p>

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