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Monday, 27 August 2007 02:00

Former forest businessman buys 50.5 pct of meat packing industry

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Estonian businessman Mati Polli has acquired a majority stake in an Estonian meat packing industry Oskar LT.

Polli who is former owner of Sylvester forest company acquired the shares from Aldo Parik who has a minority holding in the company.

At first the holding was to be acquired by a competitor, Wõro Kommerts, but the competition authorities rejected the deal.
Polli plans to take out EEK 30 mln in dividends from his investment firm Tristafan. The company ended last year with the net protif of EEK 87 mln at sales of 103 mln. Tristafan has EEK 81 mln in retained earnings. In 2005, Tristafan made a net profit of EEK 201 mln at turnover of 91 mln.
The company’s balance sheet volume has grown from EEK 803 mln to 881 mln.

Tristafan also owns Hallik Ltd hich is a baking company.

Baltic Business News 

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