Elemental Capital S.a.r.l. made an offer to acquire 60.55% stake in Orzel Bialy S.A. (WSE:OBL) from PineBridge New Europe Partners II, L.P., a fund managed by ForeVest Capital Partners, and others on January 15, 2019. Under the terms, Elemental will acquire approximately 10 million shares in Orzel. The transaction is subject to the process and results of the talks, as well as other conditions including approval of office of competition and consumer protection. The transaction was approved by the supervisory board of Elemental Holding S.A., parent of Elemental Capital SARL.