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>\n
Bittnet Systems announced that it purchased an 11.78% stake in Dendrio from Agista for RON 16.8 mln, Economica.net<\/a> reported. The price was set in line with Dendrio\u2019s evaluation (RON 142 mln), which resulted from the capital increase operated earlier this year.<\/p>\n Subsequent to the exit, Agista increased its stake in cybersecurity company Fort \u2013 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.\u00a0<\/p>\n 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>\n