On Friday, members of the Polish Financial Supervision Authority (KNF) were collected. They got acquainted with several conclusions and voting occurred. One of the topics was the issue takeover.
“The Commission unanimously stated that there are no grounds for objection As for the direct acquisition by Velobank and intermediate acquisition by Alan Waldenberg and Michael Hisler, the shares of Noble Funds Investment Funds Society, in the number ensuring exceeding 50 percent. participation in the company capital of the Society and exceeding 50 percent the total number of votes at the Society's General Meeting ” – we read in the KNF announcement.
The Commission set the date of acquisition of the Noble Funds Shares of Investment Funds Towarzystwa Funds until December 31, 2025.
We wrote about the case last year in the text: “Velobank the new owner of TFI. History has come full circle.” Velobank is an institution founded on the ruins of Getin Noble Bank. Noble Funds TFI belonged before sales in 83.4 percent to Getin Noble Bank, and in 5.2 percent to the Open Life insurer.
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“TFI required a strategic and final investor, whose tasks went beyond the trustee's mandate” – commented on the trustee Marcin Kubiczek. “The Noble Funds control package buys a stable bank. For TFI it is not only an exit from a problematic capital group, but an opening of a good development perspective. Being bankruptcy did not help in this, “he added.
Takeover of Noble Funds TFI. What is this institution?
Noble Funds Investment Funds Society specializes in creating and managing open and closed investment funds, provides asset management services involving the management of an individual portfolio of securities and investment consulting.
The Society has been on the market since November 2006 at the end of September 2024. Noble Funds TFI managed customer assets worth PLN 2.5 billion compared to PLN 2.74 billion 12 months earlier. This places the company in the group of the smallest TFI on the Polish market.
