Advent International appears to be in poll position to take over Polish supermarket chain Eko Holding.
Advent International and rival private equity firm Mid Europa Partners have been involved in a bidding war, but Eko's former chief executive Krzysztof Gradecki told Reuters he and his wife had tendered their 55 percent stake to Advent, as previously agreed.
This is despite the fact that Mid Europa Partners offered a higher price. Financial investors, who control a combined 27 percent stake in Eko Holding, favor Mid Europa's offer, Parkiet reported.
Mid Europa's offer per share valued the whole company at zł.309 million , while Advent's valued it at zł.272 million.
From Warsaw Business Journal
Senator office building in Warsaw sold for €120 million
Poles putting money in investment funds
Foreign Policy: Poland ranks 18th in investment attractiveness
German chamber: Poland best investment location in CEE
InPost plans huge global expansion
Is Poland's ruling party finished?
BY Remi Adekoya
Migration and remittances in the euro zone periphery
BY Stratfor Global Intelligence