Enterprise Investors to cease investing in Polfa Kutno

Ryszard Wojtkowski, head of Enterprise Investors' supervisory board, announced yesterday that the company intended to withdraw completely from investing in pharmaceutical producer Polfa Kutno (PK). "After seven years involvement in Polfa Kutno, our mission is on the wane. We intend to offer other investors PK's entire stake" he said. He added that the company may offer the shares to foreign, preferably financial, investors. Polish Private Equity Funds I and II, owned by Enterprise Investors, hold a 52.53% stake in PK; whereas, 21.99% remains in the hands of another fund from the Enterprise group Polish Enterprise Fund. This year, PK intends to generate a net profit of zl. 31.5 million and zl. 37.8 million next year. Revenues from sales are estimated to reach over zl. 250 million and increase to more than zl. 285 million next year. (www.onet.pl; Puls Biznesu, p. 8) A.Z