Warning: simplexml_load_file(): rss/gpw_companies_indices.xml:9: parser error : Input is not proper UTF-8, indicate encoding ! Bytes: 0xB3 0x6F 0xB6 0x63 in /equities.pl/klasy/mainpage/EquitiesCompaniesIndices.php on line 15

Warning: simplexml_load_file(): <index><name>ABM Solid SA w upad�o�ci uk�ad</name><short>ABM</short><value_open> in /equities.pl/klasy/mainpage/EquitiesCompaniesIndices.php on line 15

Warning: simplexml_load_file(): ^ in /equities.pl/klasy/mainpage/EquitiesCompaniesIndices.php on line 15
Lone Star says secures 55.2 pct stake in Polish developer GTC, Equities News - EquitiesPoland.pl
Coverage of high-potential mid-market firms in Poland


Lone Star says secures 55.2 pct stake in Polish developer GTC

TAG'S: GTC, Developers (Real Estate)

Private equity firm Lone Star has so far increased its stake in Polish real estate developer GTC to 55.2 percent in a tender offer, it said on 25 May.

The fund, which was already the largest shareholder with a 32.5 percent stake, is aiming to raise its holding to 66 percent.

But having offered 6.1 zlotys per GTC share until May 22, it is now offering a reduced price of 5.5 zlotys until the tender closes on June 3.


That is below GTC's current market price of 6.05 zlotys.


"We have surpassed the minimum level that we wanted to achieve," Alexander Hesse, co-head of real estate investments at Lone Star Europe and head of the GTC's supervisory board, said in a statement.


Lone Star decided to go ahead with the tender despite failing to secure enough backing among GTC shareholders for a rights issue for the developer to issue up to 140 million new shares.

Other shareholders in GTC included local pension funds owned by Poland's PZU, Dutch firm ING Groep, Britain's Aviva and Polish bank BZ WBK.


Comments : 0

Add comment

The published comments are private opinions of the users. Biznespolska Media Sp. z o.o. is not responsible for their content. Intelligent and insightful comments most appreciated.

Other News

Photo of the week

Photo of the week

Following an impressive run, PKN Orlen fuel reappoints CEO Wojciech Jasiński to spearhead the company to newer, more challenging waters. Gives him a new three year term!


WSE Indices

WIG20 2230,32 -1,13 % 17:15
WIG 58740,33 -1,01 % 17:15
sWIG80 13965,18 -0,14 % 17:15
NCIndex 250,86 -0,34 % 17:15

WSE Companies

Top 5 Gainers

Warning: Invalid argument supplied for foreach() in /equities.pl/klasy/mainpage/EquitiesCompaniesIndices.php on line 211

Companies temporarily unavailable

Top 5 Losers

Warning: Invalid argument supplied for foreach() in /equities.pl/klasy/mainpage/EquitiesCompaniesIndices.php on line 223

Companies temporarily unavailable