It seems as if investment firm Advent International is not the only company interested in taking over Eko Holding, which operates a chain of supermarkets in Poland, Parkiet reported.
Investment firms Penta and Mid Europa Partners have also apparently been eying the company. “Eko Holding is an interesting company and it would align well with our strategy,” an anonymous Mid Europa Partners representative told Parkiet.
The newspaper added that the two companies are frustrated with Eko Holding's main shareholder and president of the board, Krzysztof Gradecki, who seems to be favoring Advent. That company is apparently ready to pay a hefty premium for a controlling stake in the company.
Eko Holding has been trading at an average of zł.3.8 over the last six months.
In the event Advent announces a call for shares, ordinary Eko shareholders could receive as much as zł.4, and Mr Gradecki, zł.6, Parkiet reported. Along with his wife, they control 55 percent of the company, in a stake estimated at zł.129 million.
Eko Holding owns around 300 stores and its capitalization amounts to zł.233 million. Its annual revenues generally exceed zł.1.5 billion. According to analysts, this is a good moment for a takeover, because the company's valuation is relatively low.
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