PZU considers buying back shares then annulling them

"Now the advisor in co-operation with our team will prepare necessary materials. Information memorandums should be expected after the summer holiday," said president of PZU NFI Management Wojciech Grzybowski. After preliminary information, the first financial investors willing to take over the stakes contacted PZU and the estimated value of the transaction may exceed zł. 500 million. "We can estimate the value of the NFIs, but it will be increased by the premium arising from taking control over the company managing them," said Grzybowski. PZU is however not excluding other ways of disposing investment funds, as, "We still consider the option of buying back our shares and annulling them. However it depends on the interest with the whole transaction. I do not conceal the fact that it might be more lucrative for PZU," added president Grzybowski. (Puls Biznesu, pp. 1, 6) M.M