Wykup

Wykup is a term used in Polish finance and corporate law to describe a transaction in which an entity purchases a controlling stake in another company, or a company buys back a portion or all of its own shares. In practice, wykup covers both the acquisition of equity to gain control (a buyout) and the issuer’s repurchase of its own stock (a share buyback). The word is commonly heard in discussions of corporate restructurings, succession planning, and liquidity events for owners.

Common forms of wykup include management buyout (MBO), where the company’s managers acquire a controlling stake; management buy-in (MBI), where external managers join to acquire the business; and leveraged buyout (LBO), which uses significant borrowed funds to finance the acquisition. Employee buyouts or arrangements involving employee ownership are also encountered, including ESOP-related transactions. When used to describe a company buying its own shares, the process is typically called a share buyback or wykup własnych akcji, pursued to optimize capital structure, signal confidence to the market, or distribute surplus cash to shareholders.

Mechanically, a wykup involves due diligence, financing arrangements, and legal steps, and often requires negotiations with sellers, lenders, and, in some cases, regulatory or supervisory approvals. The choice of structure affects leverage, control rights, and post-transaction governance. In Poland, such transactions are governed by corporate law and market regulations, with specific rules for public companies and, where applicable, for related-party transactions and anti-trust considerations.