Penta Investments and Krockella Limited took over 37.2 percent share in Empik Media & Fashion (EM&F), owned by Eastbridge. The transaction gives Penta nearly 50 percent in the group, and an equivalent share of voting rights. Penta’s partner in the investment, Krockella Limited, now holds 25.4 percent in EM&F. The companies also announced plans to further increase their holding in EM&F. The share price has been set at PLN 3.49 per share.
Penta began investing in EM&F in 2012 as it moved to diversify its own portfolio. “Our extensive experience in the retail sector helped in the restructuring process of EM&F group which provided financial stability,” said Thomas von Werner, investment director at Penta Investments.
