Herbapol under offer from Polpharma

The country's largest pharmaceuticals producer, Polpharma, is eyeing P ruszków-based herb producer Warszawskie Zakłady Zielarskie Herbapol (H erbapol). The company has already presented its offer for the purchase of Herbapol to the Mazowieckie voivod, a clear sign that Polpharma has not given up its plans to enter the domestic herb production market. However, the binding decision to acquire Herbapol is expected after Polpharma's shareholders' meeting, to take place in a few days. Polpharma's shareholders will also decide whether to increase the company's capital by over zł. 50 million as a part of its privatization program. The company will also allocate all its 2002 profits, at least zł. 80 million, to its capital reserves. However, prior to any takeover Polpharma will conduct due di ligence into Herbapol, the company's representatives said. The value of the potential transaction remains unknown. Herbapol specializes in the pro duction of medicinal toothpastes and lotions. (Puls Biznesu, p. 3) J.K.