Pharmaceuticals multinational Sanofi-Aventis wants to buy all the shares of Warsaw-based Nepentes for zł.420 million.

The company is offering minority shareholders of the Polish company zł.28 per share, while the founders will be paid zł.26 a share.

A condition of the transaction going ahead is that the Paris-based company must acquire at least 90 percent of Nepentes' stock.

The shares were priced at zł.27.2 yesterday after a 5.5 percent drop. Nepentes' main shareholders, who now control about 63 percent of the company, have already decided to sell.

Much now depends on institutional investors, who analysts predict may demand a higher price.

Source: Poland AM