Credit Agricole buys majority stake in leasing company

Credit Agricole has purchased 3.2 million shares of Europejski Fundusz Leasingowy (EFL), the equivalent of a 50.1% stake in the Polish company. Credit Agricole earlier announced its interest in obtaining full control over EFL, therefore another offer is in the pipeline. The price of one share will likely remain the same as in the first transaction at zl.230 per share. Leszek Czarnecki, EFL's main shareholder, sold almost 19% of his shares and now holds 45.5%, meaning that only around a 4.5% stake is held by minor private investors. According to Prawo i Gospodarka, all the large financial investors engaged in EFL, including Bankers Trust Company, have sold their stakes. (Prawo i Gospodarka, p.10; Parkiet, p.4) A.K.