Are you sure?

Permira to make bid for Borsodchem by mid-September

Permira Advisers LLP, a U.K. buyout company planning to purchase Borsodchem Rt, may publish its public offer for all shares in eastern Europe's biggest maker of PVC plastic by the middle of September, an executive told Bloomberg.

London-based Permira holds options until the end of October to buy a combined 52% stake in Borsodchem from two investors. It wants to finish examining Borsodchem's books and make the bid for all shares in the company in two months, Thomas Jetter, the head of Permira's chemical investments, said in a telephone interview today.
Permira said last week it wants to acquire Borsodchem in a takeover that would value the Hungarian company at about Ft 228.5 billion ($1 billion). Permira would make its offer through Luxembourg-based Kikkolux S.ar.l., which has the option to buy Borsodchem stakes from Firthlion Ltd., owned by Megdet Rahimkulov, one of Hungary's richest men, and Vienna Capital Partners, an Austrian investment company. Permira has options to buy the stakes from the two shareholders at a price of Ft 3,000 per share and may purchase remaining shares in the Hungarian company at the same price, Permira said in a July 7 statement.