OFEs won’t sell Tarczyński shares depite price hike

A group of Open Pension Funds (OFE) informed that they will not be responding to the tender offer for WSE-listed meat processor Tarczyński despite the recent price hike to PLN 12.6 apiece from the previous PLN 10.5 price tag. The group includes OFE Aviva BZ WBK which holds 14.37 percent stake, and, Nationale-Nederlanden OFE (6.97 percent stake) as well as a number of other funds which stakes do not exceed 5 percent. In the letter sent to the company, OFEs maintained their stance that the share price proposed in the tender offer does not reflect fair value in their opinion. Back in December, Tarczyński main shareholders Elżbieta and Jacek Tarczyńscy launched a tender offer for 6 million of the company’s shares representing a 52.88 percent stake in the company and 41.82 percent of the voting rights.