ComputerLand has reported that according to the merger agreement with Emax, Emax’s former biggest shareholder – BBI Capital – has selected an independent candidate for ComputerLand’s supervisory board, Przemyslaw Alexander Schmidt. Mr Schmidt is currently a partner a Trigon (investment banking company) and a supervisory board member at AmRest. Furthermore, according to the merger agreement, Pawel Turno, the CEO of BBI Capital, is also to become a supervisory board member. ComputerLand has also reported that it is going to propose these two persons for the new supervisory board members on the EGM that is to take place on September 25.
Our view: We believe the news could have a moderately positive trading impact as it brings ComputerLand and Emax one step closer to the merger in which we see synergy. We reiterate our Buy rating on both ComputerLand and Emax.