PEF V signs agreement with BSH to sell Zelmer stake

Polish Enterprise Fund V (PEF V), a private equity fund managed by Enterprise Investors, has signed a binding agreement with Bosch und Siemens Hausgeräte (BSH) to sell its entire 49 per cent stake in Zelmer.

BSH has launched a public tender offer for 100 per cent of Zelmer shares and will become its strategic investor.

The transaction is a result of the search for a new investor that Zelmer announced on 28 August 2012. The price to be paid by BSH in the tender will be PLN40 (£7.68) per share.

The public tender offer is expected to last 70 calendar days from 4 December 2012 and will be subject to the approval of relevant anti-monopoly authorities.