EI changes strategy over sale of Polfa, Institutional investors now sought

Enterprise Investors (EI), the majority shareholder in medicines producer Polfa Kutno, does not believe that the company can be sold to a sector investor and plans to offer the shares to financial institutions. "Our experiences over the past few months show that selling the 70% stake to a drug company for reasonable price is rather unlikely. However, if we receive an offer, then we will consider it," said EI partner Ryszard Wojtkowski. The previous talks with investors reached advanced stages only to fall apart once it came to settling the final price. Afterwards the company, inspired by EI, made a call for its shares which would all be later bought by a sector investor. However, this plan also failed. The new offer will not be made soon, as EI plans to wait for Polfa's financial results in order to convince investors that buying the shares is a good investment. (Puls Biznesu, pp. 1, 5) M.M.