EJT buys 1.5 mln shares in Tarczyński

Elżbieta and Jacek Tarczyński, the main shareholders of WSE-listed meat processor Tarczyński, have bought 1.5 million shares in the company in the tender offer through its subsidiary EJT Investment. Tarczyńscy, who currently control 47.12 percent stake and 58.18 percent of the voting rights, wanted to buy 6 million shares representing 41.8 percent stake in the company. The price in the tender was initially set at PLN 10.5 apiece but was twice raised with the final offer at PLN 14. Yet, three open pension funds (OFEs) Nationale-Nederlanden Otwarty Fundusz Emerytalny, Aviva Otwarty Fundusz Emerytalny Aviva BZ WBK, and Otwarty Fundusz Emerytalny PZU Złota Jesień have said they will not sell their shares deeming the price too low. OFE Aviva BZ WBK holds 14.37 percent stake, while Nationale-Nederlanden OFE  has 6.97 percent stake) PZU OFE stake does not exceed 5 percent.