Retail grocer Eko-Holding decided to reject an offer for takeover talks from private equity group Mid Europa Partners on a unanimous board decision based on both a decision by lead shareholders to sell in a rival bid and with an eye to Mid Europa's rival operations in Poland, Eko Holding said in a market filing.

Prior declarations by majority shareholders Krzysztof and Marzena Gradecki that they will sell their stake in a PLN 4.7 per share bid from Advent International "signals the impossibility of Mid Europa partners conducting a deal," management said.

"Another reason to reject the offer is the fact that Mid Europa Partners has a stake in a competitor to EKO Holding," management said.

Mid Europa, already owner of the Zabka grocery chain in Poland, has said it seeks to run due diligence on the firm ahead of a public tender it assures would be valued at or above PLN 5.5 per share.