Reuters – Penta and Eastbridge Raise Bid for Polish Retailer

Czech private equity group Penta Investments and investment fund Eastbridge have raised their joint bid for Polish retailer Empik Media & Fashion to 10.45 zlotys per share, or a total of 436 million zlotys ($136 million), writes Reuters. Penta and Eastbridge, which are seeking to buy 40 percent of the business, had already raised their bid once to 10.38 zlotys.

Reuters – Czech private equity group Penta Investments and investment fund Eastbridge said on Tuesday they raised their joint bid for Polish retailer Empik Media & Fashion (EM&F) to 10.45 zlotys per share, or a total of 436 million zlotys ($136 million).

Penta and Eastbridge, which are seeking to buy 40 percent of EM&F, had already raised their bid once to 10.38 zlotys and said on Monday they could go ahead with the offer even if they do not reach their minimum goal of 20 percent acceptance.

Eastbridge already owns 60 percent of the retailer. ($1 = 3.2098 Polish zlotys) (Reporting by Maciej Onoszko)