Penta plans PLN 50m restructuring of EM&F

Having increased its holding in Empik Media & Fashion group to nearly 50 percent, Penta Investment, along with a Slovak partner, is buying the remaining shares in the group. Speaking with the Polish Press Agency PAP, Thomas von Werner, head of investments of Penta Investments said his company is planning to invest between PLN 45m and PLN 50m restructuring the group this year. The share price has been set at PLN 3.49 per share.

“The move to further expand our holding in the group is part of the procedure required by the transaction, but we’ll be very satisfied if we manage to take over the remaining stake in the company,” said von Werner adding that in the long-term, Penta could be withdraw EM&F from the Warsaw Stock Exchange, as the company’s freefloat is very low.

Penta began investing in EM&F in 2012 as it moved to diversify its own portfolio. “Our extensive experience in the retail sector helped in the restructuring process of EM&F group which provided financial stability,” said von Werner.