PineBridge Investments to Buy Malpka Express (CEE and CIS)

Source: Polish News Bulletin

Poland-based retail group Czerwona Torebka has agreed to sell its convenience store chain Malpka Express to principal investment firm PineBridge Investments for PLN362 million (approximately US$108 million). Instead of a cash payment, PineBridge will transfer all of its current shares in Czerwona—in which it holds a 16 percent stake—back to the retail group as the first installment. The remaining amount will be paid within three years. The transaction is subject to regulatory approval.