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Penta says will not change offer price for Fortuna shares
April 26, 2017 / 9:27 AM / 5 months ago

Penta says will not change offer price for Fortuna shares

PRAGUE, April 26 (Reuters) - Penta Investments, the biggest shareholder in Czech betting company Fortuna Entertainment Group , does not plan to change the price of 98.69 crowns ($4.00) a share it has offered minority shareholders in a buyout.

Penta partner Marek Dospiva told a news conference on Wednesday the offered price reflected Fortuna’s planned investments and suspended dividend policy.

The offer announced on March 31 had been around 10 percent below Fortuna’s market price. Penta holds a 68 percent stake in Fortuna through its Fortbet Holdings subsidiary.

Dospiva also said that a court order barring a shareholder vote on Fortuna’s proposed purchase of Penta-owned companies in Romania would only be a temporary measure and that he expected the acquisitions to be completed.

$1 = 24.6430 Czech crowns Reporting by Petra Vodstrcilova; Writing by Jason Hovet

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