The buyout house had previously agreed to pay PLN228m ($86.91m) for the company, but was briefly in second place to win the company when Mid Europa offered PLN309m earlier today.
Advent subsequently had a higher bid accepted by former chief executive Krzysztof Gradecki and his wife for their 55 per cent stake, according to Reuters.
The group is believed to be released from about PLN65m of debt and from all corporate guarantees issued by EKO Holding for the benefit of the non-core businesses as part of the deal.
Last month the Gradecki family rejected an offer from CEE-focused Mid Europa, which said it could offer as much as PLN5.5 per share.
The firm is now left vying only for the remaining 45 percent of EKO, mainly in the hands of pension and investment funds, according to Reuters.
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