Pollen Street increases offer for Prime Car Management

The firm initially offered PLN 20 per share on 20 February, but has increased this to PLN 23.25 per share, implying a valuation of PLN 277m.

PSC III is listed in the announcement as the investment fund that would finance the transaction. PSC III was Pollen Street's first fund as an independent investor after spinning out of RBS; it raised £400m at its final close in February 2018.

Pekao Investment Banking is acting as financial adviser to the offer.

Prime Care Management was founded in 1999 and offers a range of leasing products and management services through its subsidiaries. It generated net income of PLN 12m from revenues of PLN 595m in 2018.

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