PSC III, LP managed by Pollen Street Capital made an offer to acquire Prime Car Management S.A. (WSE:PCM) for approximately PLN 240 million on February 20, 2019. 100% of Prime Car Management shares will be acquired at PLN 20 per share. As of February 25, 2019, Pollen Street increased its bid price to PLN 23.25 per share and it will now pay approximately PLN 280 million to the Prime Car shareholders. The competing bidder for Prime Car, PKO Leasing, decided not to go through with its offer for the acquisition of Prime Car, citing the failure to reach the minimum tender condition of 66% shares of Prime Car. The transaction is subject to a minimum tender of 66% of the Prime Car Management shares or at least 7.9 million shares. Pollen Street Capital will seek to delist Prime Car Management if it achieves an appropriate stake level. As of March 11, 2019, management found offer price as fair. The tender offer will commence from March 13, 2019 and will last till April 15, 2019. Office of Competition and Consumer Protection (UOKiK) approved the deal on March 20, 2019. Wojciech Polz, Karol Kulhawik, Wojciech Polz, Jaroslaw Lorenc and Karol Kulhawik of Clifford Chance Warsaw acted as legal advisors for Pollen Street. PSC III, LP, managed by Pollen Street Capital cancelled the acquisition of Prime Car Management S.A. (WSE:PCM) on April 24, 2019. Until the end of the subscription period, i.e., April 24, 2019, no subscriptions for sale of at least 66% were made of the Prime Car Management's shares representing 7.86 million shares at the General Meeting of Prime Car Management. In connection with the offer, Pollen Street Capital has decided not to purchase the shares.