Bakalland to be taken off bourse

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Innova Phoenix and EMP Investments have announced a tender offer to buy 5,183,311 shares in nuts and raisins distributor Bakalland that make up 26.40 percent of all the company’s shares. The group calling on the shares wants to acquire 100 percent in the company’s and withdraw it from the stock exchange.

Innova Phoenix and EMP Investments are offering PLN 2.80 for one share.

Subscriptions in the offer will last from September 4 till  October 3, 2014.

The call is made by 11 entities that hold a  73.60 percnt stake in Bakalland altogether. The group wishes to withdraw from Polish regulated market Warsaw Stock Exchange and dematerialize the shares.

Two months ago Bakalland, with the help of Innova Phoenix capital, took over Delecta, another food company.

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