• Most Popular
  • Most Shared

Advent fund bids to buy Polish publisher WSiP

Fri Nov 6, 2009 4:52am EST

WARSAW, Nov 6 (Reuters) - U.S. private equity fund Advent International announced a public bid on Friday for Poland's top textbook publisher WSiP WSIP.WA for 405 million zlotys ($141 million).

Stocks  |  Mergers & Acquisitions  |  Industrials

Advent, which does not own any WSiP shares, is offering 16.35 zlotys each, a 1.5 percent premium over Thursday's closing price. By 0925 GMT, the stock gained 1.1 percent to 16.28 zlotys.

Advent International, whose investments include British store chain Poundland and German fashion retailer Takko, plans to delist WSiP if it buys at least 80 percent of the former state company privatised in 2004.

Polish investor Zbigniew Jakubas told Reuters he was unlikely to sell his 10 percent stake in WSiP.

Shareholders will be able to sign up for the buyout between Nov 27 and Dec 28. The offer is managed by ING Securities. ($1=2.872 Zloty) (Reporting by Agnieszka Barteczko, writing by Adrian Krajewski; Editing by Hans Peters)

Stocks
Mergers & Acquisitions
Industrials


More from Reuters

Photo

Economy grew 2.2 percent in third quarter

WASHINGTON (Reuters) - The economy grew at a much slower pace than previously thought in the third quarter, restrained by weak business investment and a slightly more aggressive liquidation of inventories, data showed on Tuesday.

» More Top News
Photo

The end of the carry trade?

Borrowing the dollar cheaply to fund purchases of higher-yielding assets was a no-brainer in 2009, but will it be a safe bet in 2010?  Full Article 

CURRENCIES
Cars travel along an overpass with an advertisement of a Saab vehicle in the background in Budapest December 21, 2009. REUTERS/Laszlo Balogh

Spyker races to clinch a deal

The Russia-backed carmaker is pressing ahead with a renewed bid for GM's Saab as reports of new backing from a Dutch billionaire swirl.  Full Article 

DEALS