Pernod Ricard announced today that its planned takeover of Polish company Agros has been given the go-ahead by the Warsaw stock market authorities (KPWIG).

In a statement, the company said the KPWIG has issued a favourable opinion allowing Santa Lina (Pernod Ricard Group) to exceed a new threshold in the control of the Polish company Agros.

According to Polish regulations, this results in the launch of a takeover bid for the entire capital of the company.

Santa Lina has offered to acquire the shares of the Agros company at a price of 41.50 zlotys (10.90 euros) per share. The Pernod Ricard group already controls 37% of Agros's capital and 74% of the voting rights.

Under the terms of a recent agreement, a group of minority shareholders has undertaken to contribute 37.4% of the share capital to Santa Lina within the framework of this takeover, upon receiving the authorisation.

Agros generates sales of 282 million euros. The company has decided to restructure its activities around two strategic divisions: Agros Fortuna (processing of fruits and vegetables into brand products) and the exporting of spirits, notably Wyborowa vodka.

The company recently sold its Milejow and Pinchow activities, with the purchasers keeping on all of the personnel.