NN PTE sells its stake in Vantage Development

Pension fund manager Nationale-Nederlanden PTE sold off its entire 9.85 percent stake in WSE-listed real estate group Vantage Development. The transaction was a part of the tender offer for Vantage Development by Fedha, the developer's subsidiary.. Fedha, bought 15.1 million shares in the buyout offer out of 18.78 million (30.08 percent stake) it bid on. The initial price of PLN 3.25 was later raised to PLN 3.70.