February 1, 2007

Provimi enters into sale purchase agreement with Nutrilux
 

Press release
 

The board of directors of Provimi SA recently announced that its shareholder Provimlux Investments SA has entered into a sale purchase agreement with Nutrilux S.a.r.l., a company indirectly controlled by funds advised or managed by Permira Advisers LLP, relating to its block stake of 19,323,016 shares of Provimi SA (representing 74.05 percent of the share capital and 74.47 percent of the voting rights) at a price of EUR30/share (about US$39/share) and assumption of the vendor's costs.

Provimlux Investments SA, a company incorporated under the laws of Luxembourg and controlled by funds advised or managed by PAI partners and CVC Capital Partners, owns 74.05 percent of the share capital and 74.47 percent of the voting rights of Provimi SA.

Over the last few months, the board of directors of Provimi SA and Provimlux Investments SA, assisted by Goldman Sachs as its exclusive advisor and Willkie Farr & Gallagher LLP, as its legal advisor, have been conducting a review of the strategic alternatives available and have concluded that Nutrilux S.a.r.l.'s offer represents the best alternative to all Provimi SA shareholders and offers Provimi a new shareholder to deliver its future growth prospects. 

The transaction is only subject to approval of the competent antitrust authorities.

As required by applicable stock exchange regulations, a project of mandatory offer will be launched, following completion of the transaction, on all the remaining shares of Provimi SA.  

Also, as required by the applicable stock exchange regulations, a further announcement will be made in due course within the framework of the filing of the mandatory tender offer.

The Provimi Group is active worldwide in all types of animal nutrition and is a leader in all markets where it is present. It employs almost 9,000 people and has sales of EUR1.6 billion. Provimi has 100 production centres in some 30 countries and exports to over 100. Provimi manufactures nutritional products and provides technical support for all species, including ruminants, poultry, swine, horses, fish and pets. 

For further information, visit: www.provimi.com