{"id":8054,"date":"2012-02-17T02:07:46","date_gmt":"2012-02-17T00:07:46","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-2-mondi-seen-sweetening-374-mln-bid-for-polish-unit\/"},"modified":"2012-02-17T02:07:46","modified_gmt":"2012-02-17T00:07:46","slug":"update-2-mondi-seen-sweetening-374-mln-bid-for-polish-unit","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-mondi-seen-sweetening-374-mln-bid-for-polish-unit\/","title":{"rendered":"UPDATE 2-Mondi seen sweetening $374 mln bid for Polish unit"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Mondi says to buy remaining 34 pct of Mondi Swiecie<\/span><\/p>\n

<\/span><\/p>\n

* Mondi Swiecie up 5.8 pct, Mondi down<\/p>\n

<\/span><\/p>\n

By Agnieszka Flak and Maciej Onoszko<\/p>\n

<\/span><\/p>\n

JOHANNESBURG\/WARSAW, Feb 16 (Reuters) – Shares in
\nPolish paper maker Mondi Swiecie climbed above an
\noffer price from its South African parent on Thursday, as
\ninvestors bet Mondi Ltd would have to sweeten its $374
\nmillion buy-out bid.<\/p>\n

<\/span><\/p>\n

The South African paper maker owns two-thirds of Mondi
\nSwiecie, whose products are used to make items including paper
\nbags, and offered 69 zlotys ($21.5) per share for the remaining
\n34 percent of the Polish company.<\/p>\n

<\/span><\/p>\n

The offer was in line with Mondi Swiecie’s closing price in
\nWarsaw on Wednesday, but investors sent shares of the firm up
\nanother 5.8 percent to 73 zlotys on Thursday.<\/p>\n

<\/span><\/p>\n

“Mondi showed determination to buy and delist Swiecie, but
\nthe market says not at this price. It expects the price to be
\nraised,” said Mariusz Musial, a broker at Warsaw’s Trigon DM.<\/p>\n

<\/span><\/p>\n

Pension fund Aviva PTE, which holds 7.3 percent of Swiecie,
\nsaid it was analysing the bid, while ING PTE, which has 10
\npercent, declined to comment.<\/p>\n

<\/span><\/p>\n

Mondi, which is also listed in London, said it had made the
\n1.2 billion zloty ($374 million) all-cash offer for the
\nremaining 17 million shares to gain full control of the
\ncontainer board maker, in line with its strategy to streamline
\nits structure.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Mondi says to buy remaining 34 pct of Mondi Swiecie * Mondi Swiecie up 5.8 pct, Mondi down By Agnieszka Flak and Maciej Onoszko JOHANNESBURG\/WARSAW, Feb 16 (Reuters) – Shares in Polish paper maker Mondi Swiecie climbed above an offer price from its South African parent on Thursday, as investors bet Mondi Ltd would […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8054","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8054"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8054\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}