• Enterprise Investors set to purchase total of 76% of shares in the Polish telecommunications company
• Strategic sale of non-core operations
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Duisburg, on 5 May 2015. PCC SE has sold its stake in the Polish telecommunications company 3S S.A., Katowice. The purchaser is the Polish Enterprise Fund VII (PEF VII) of private equity company Enterprise Investors, Warsaw, which has already invested 1.6 billion euros in 134 companies. Founded in 2002 and operating out of southern Silesia, 3S offers B2B internet connection, data transmission and data center services.
“This sale of our stake in 3S, originally acquired as a financial investment, takes us further along the path of selling off portfolio companies that lie outside our core chemical, energy and logistics activities,” says Thomas Meuthen, Director Finance & Investor Relations at PCC.
Polish Enterprise Fund VII is to buy a total of 76 percent of the shares in 3S. Aside from the PCC package, the company founders will also be disposing of 3S shares. The total transaction value amounts to EUR 22 million. The transaction itself is still subject to scrutiny and approval by the antitrust authorities.