Pogonaru recently united forces with Cyprus-based Avaliser Trading for the takeover offer. Together, they own 40.11% in Prodplast.
The offer will be carried out by three companies controlled by Pogonaru, namely Central European Financial Services, ECDL Romania and Floreasca Development. Voltinvest will act as broker on the transaction.
Pogonaru plans to buy 10.22 million shares (59.89%) in Prodplast for RON12.98 million (EUR3.08 million).
Prodplast reported a loss of nearly RON0.5 million in the first quarter, wider from RON179,000 in the year-earlier period.
Turnover stood at RON11.23 million (EUR2.6 million), up nearly 21% on the year.
On the Bucharest bourse Thursday, Prodplast closed flat at RON1.21 a share.(EUR1=RON4.2087)