Godlman Sachs raises price in the Robyg tender

Goldman Sachs through its subsidiary Bricks Acquisition Limited raised the price in a tender offer for 100 percent stake in the WSE-listed real estate developer Robyg to PLN 4 apiece from initial PLN 3.55 offer. Overall, Bricks wants to acquire some 289 million shares. The previous offer was blocked by a group of open pension and investment funds which combined control a 51.6 percent stake in Robyg. They decided that the PLN 3.55 per share offer “does not reflect the fair value of the company.” The offer, which already received a green light from the antitrust watchdog UOKiK, will go through if at least 66 percent stake is tendered.