Polish Enterprise Fund announces tender for Huta Krosno

The tender will start Sept. 20 and end Oct. 8. Ultimately, PEF will raise its stake in Krosno to above 1.65 million shares which is nearly a 50% stake. At the beginning of September PEF acquired a 10% stake in Krosno from National Investment Fund (NFI) Octavia. "The tender does not mean bad intentions. The firm [HSK] has stated many times the need for stable shareholders. PEF brings to Krosno such a chance," said Jacek Siwicki of Enterprise Investors which is PEF's investment adviser. (Prawo i Gospodarka, page 8, Gazeta Wyborcza, page 20)