Provimi Polska Holding bids for control of Rolimpex

Provimi Polska Holding has made another bid for all outstanding shares in Rolimpex, which would allow it to increase its stake in the animal feed producer from 42.3% to 50% and take control over the company. The offer represents a 26% premium over Rolimpex's six month average share price and is equal to its Monday closing price. Following announcement of the news yesterday, Warsaw Stock Exchange (WSE) authorities suspended trading before the market opened. Rolimpex is one of the country's top animal feed producers, with a market share of 14%. The group also sells John Deer farm equipment and other agricultural products. Last year the company increased its EBIDTA margins to around 6% due to extensive restructuring and the sale of loss-making sugar refineries. The group's 2002 sales remained flat at zl. 1.07 billion. (Parkiet, p. 3) J.K.