Finnish private equity investor CapMan Plc to acquire Norwegian plastics company Polimoon ASA

Nordic Business Report, Oct 19, 2006

NORDIC BUSINESS REPORT-19 October 2006-Finnish private equity investor CapMan Plc to acquire Norwegian plastics company Polimoon ASA(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com

The Finnish private equity investor CapMan Plc announced on Tuesday (17 October) that it plans to make a voluntary offer for all shares of Norwegian plastic products manufacturer Polimoon ASA.

The offer will be made through the new Norwegian company wholly owned by the CapMan Buyout VIII Funds, managed by CapMan.

CapMan will offer NOK27.50 per share, which values Polimoon at NOK1,082m, and represents a premium of 21.7% compared to the closing price on 16 October.

CapMan said that it has already received acceptances representing 60% of the outstanding shares of Polimoon.

"We are impressed by Polimoon's achievements in building a leading European developer and producer of products and applications manufactured in plastic, providing a wide range of packaging products for customers in consumer, chemical and medical industries, as well as components for the automotive and electronic industries," said Kai Jordahl, Senior Partner at CapMan.

"While Polimoon has experienced strong growth as a listed company, we believe that the future prospects will be improved as a private company," Jordahl continued.

"The Polimoon share has experienced limited trading volumes since the IPO in April 2005, and we are convinced that its market knowledge and financial strength, including faster and easier access to financing of the Company's buy and build strategy, would positively affect and further accelerate Polimoon's growth and profitability," Jordahl concluded.

Polimoon manufactures products and applications in rigid plastics. It has 4,000 employees and 39 production sites in 16 European countries. Polimoon is listed on Oslo Stock exchange under the ticker POLI.

One British pound (GBP) is worth approximately 12.48 Norwegian kroner (NOK).

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