KIPF to buy back the remaining Pelion shares

KIPF, the majority shareholder of the WSE-listed pharma distributor Pelion will buy back the remaining 8.27 million shares with the price set at PLN 52.33 apiece. KIPF, along with the company's owners controls 25.77 percent of capital and 54.13 percent voting rights. The tender will go through if at least 6.54 million shares are sold. Should KIPF succeed in reaching an at least 90 percent stake in Pelion, it will conduct a mandatory squeeze-out and de-list the company, the press statement reads. The purchase of a full stake in Pelion shares is a "long term strategic investment," KIPF said in a press statement. KIPF has already signed a credit agreement with banks on the financing of the tender offer.