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21.02 09:17:59

Mondi bids $360m for Mondi Swiecie - Poland

Mondi is looking to close its $374 million buy-out bid of Polish paper maker Mondi Swiecie CELA. Mondi currently owns two thirds of the company, but analysts believe it will have to up its offer to delist the company and achieve full ownership.

"Mondi showed determination to buy and delist Swiecie, but the market says not at this price. It expects the price to be raised," said Mariusz Musial, a broker at Warsaw's Trigon DM, in Reuters.

Mondi said it had made the 1.2 billion zloty ($374 million) all-cash offer for the remaining 17 million shares to gain full control of the container board maker, in line with its strategy to streamline its structure.

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