Warsaw, January 21st, 2010 - Advent International, a leading global private equity fund, has increased the price to PLN17.15 per share in the tender offer to acquire 100% of Wydawnictwa Szkolne i Pedagogiczne S.A. (WSiP). The acceptance period will expire on the 29th January 2010.
Pahoa Investments Sp. z o.o., a company indirectly wholly owned by funds managed by Advent International, on 6th November 2009 announced a public tender offer for all outstanding shares in WSiP. Today Pahoa Investments Sp. z o.o. informed that has increased the offered price per share to PLN17.15.
Commenting on today’s announcement, Monika Morali-Efinowicz, Managing Director at Advent International said:
“The current price, which is now at a very attractive level, is a result of constructive talks we held with WSiP’s largest shareholders. We have confidence that this will lead to a positive response from their side.”
About Wydawnictwa Szkolne i Pedagogiczne:
Wydawnictwa Szkolne i Pedagogiczne are the largest Polish educational publisher offering a complete range of textbooks, supplementary books and multimedia for all types of schools and all school levels. Established in 1945, the company has been listed on the Warsaw Stock Exchange since November 3rd 2004.