Dominika Kulczyk makes full control offer of Polenergia

One of the richest people in Poland Dominika Kulczyk has launched a tender offer to acquire the remaining 49.8 % of shares she doesn't own in the Polish company Polenergia. Kulczyk is offering 20.5 zlotys (USD5.51074) per share, valuing the stake at 464 million zlotys ($123 million), and plans to delist the company from the Warsaw Stock Exchange. 

Kulczyk’s offer was higher than a bid in May by state-run PGE, Poland’s biggest power group, which launched a tender to buy 100 percent of Polenergia, offering 16.29 zlotys (USD4.37902) per share.

Investors can subscribe to sell their shares in Polenergia to Dominika Kulczyk starting from Sept. 17 until Oct. 17.

Other shareholders in Polenergia include China-Central and Eastern Europe Investment Co-operation Fund, which has a 15.99-percent stake, as well as pension funds owned by Aviva , Nationale-Nederlanden and Generali.

The China-CEE Fund signalled in June that it would not sell its shares to PGE as it was a long-term investor, while the pension funds said the price offered by PGE was too low.

Kulczyk currently owns 50.2 percent stake in the company.