Mondi Group has made an all cash public tender offer of PLN69.00 (EUR16.48) per share for 17 million shares representing 34% of the share capital of Mondi Swiecie S.A. that it does not already own.
Mondi Swiecie is listed on the Warsaw Stock Exchange. The offer represents a premium of 15.6% over the last three months average price of PLN59.71 (EUR14.26). The transaction is expected to be concluded in mid April 2012. Full acceptance of the offer would result in an aggregate cash consideration payable by the Mondi Group on closing of PLN1.2bn (EUR280m).
Mondi Group needs the acceptance of a minimum of 14% of Mondi Swiecie shares in order to be able to take control of the company. Upon completion of the transaction the group intends to delist Mondi Swiecie from the Warsaw Stock Exchange.