Czech fund Penta Investments offers to buy 40 percent stake in Polish retailer

Czech fund Penta Investments has bid for a 40 percent stake in Polish retailer Empik Media & Fashion (EM&F) for 410 million zlotys. The offered price denotes 11.2 percent and 10.7 percent premiums to 3 and 6 months average share prices, respectively. Penta plans to co-manage the business with EM&F’s main shareholder Eastbridge and delist it from the Warsaw Stock Exchange post acquisition.