TDJ Equity II sp. z o.o. made an offer to acquire an additional 31.32% stake in PGO S.A. (WSE:PGO) for PLN 37.8 million on December 7, 2020. Under the terms, 30.2 million shares will be acquired at a price of PLN 1.25 per share. As of January 21, 2021, transaction terms were revised to PLN 1.45 per share. Post the completion of the transaction, PGO S.A will be delisted from Warsaw Stock Exchange. Following the tender offer, TDJ intends to achieve 98.32% of the total number of shares. Post carrying out the tender offer if TDJ Equity achieves directly or indirectly, 95% of the total number of votes in the company, it intends to conduct a compulsory buyout of the company's shares held by the remaining minority shareholders of the company. The transaction is expected to close on January 27, 2021. The expected date of the transaction on the Warsaw Stock Exchange is February 1, 2021 and the expected date of transaction settlement is February 2, 2021.