American Soft Drink Giant PepsiCo Inc. is in Talks to Acquire Serbian Mineral Water Bottler Knjaz Milos
Fiat and Zastava to Ink Strategic Partnership deal Early in September
The Belgrade Stock exchange suffered yet another week of poor performance as its two indexes, BELEX15 and BELEXline closed at -3,75% and -3,02% respectively. Overall turnover increased by12,59% while the nuber of transactions during the week fell by -16,18%. Out of 206 stocks which were traded during the week, 140 noted price declines during the week, while only 46 stocks noted a rise in stock price.
The most traded stock during the week was AIK Bank (BSE: AIKB) which accumulated a turnover of RSD 95,44 million followed by Komercijalna Banka (BSE: KMBN) which had a total turnover of RSD 26,99 million and a - 9,23% drop in price.
The bonds market experienced a slight decrease of -4,46% of turnover compared to prior week's results. Total turnover amounted to EUR 708,836 as the bond A2009 accumulated over EUR 284 thousand in turnover this week. The largest price increase was recorded by A2015 which increased by 1,32% while the bond with maturity date in 2016 suffered a price decrease of -1,18% this week.
market Data
BELEX15 (chart)
BELEXline (chart)
Turnover and Transactions (table)
Bonds - Prices & Yield Curve (table and chart)
Stocks
Most traded (table)
Most Advanced (table)
Most Declined (table)
Selected Stock Charts (charts)
Stock Screen (charts)
industry research - PEER Comparison
Agriculture (table)
Banking (table)
Chemicals and Pharmaceuticals (table)
Confectionary (table)
Construction and Engeneering (table)
Dairy Products (table)
Edible Oil and Oil Products (table)
Insurance (table)
Milling industry (table)
Mining (table)
Road Construction (table)
Telecomunications (table)
Trade and Distribution (table)
Water Bottling (table)
industry Comparison (table)
industry Monitor - (Median Rates for Selected Groups of Companies) (chart)
Stocks - Block Trading (table)
currencies - Median Rates (table)
Investment Funds (table, chart)
Regional Markets (table)
T - Bills Republic of Serbia (tables and charts)
Macroeconomics Quickview (table)
EUR/RSD Median Rate (chart)
MSCI Emerging markets Eastern Europe 2006, 2007 and 2008 Relative performance (chart)
Investment Funds (table)
Focus Premium Investment Growth Fund (chart)
Headlines
- PPI inflation accelerates to 14.3% y/y in July
- AIK bank posts EUR 31.2mn net profit in H1
- Economy minister: Telekom Srbija to float on Belgrade, London bourses in 2009
- Government to restructure JAT in case of unsuccessful sale
- EBRD mulls lending up to EUR 70mn to retailer Idea
- War crimes fugitive Mladic reportedly to be arrested by end-month
- Deputy PM: Parliament blocking to affect Serbia’s bid for “white Schengen list”.
- NBS foreign reserves increase 1.7% m/m to EUR 9.27bn at end-July Central bank intervenes again as strong dinar hits new record against euro
- New evaluation of oil company NIS to be completed in early September
- Delta Real Estate to build EUR 242mn shopping centre in Slovenia
- Deputy PM says trade accord with EU might come into force on Sep 15
- Serbian officials urge remaining ICTY fugitives to surrender
- NBS intervenes to prevent further dinar appreciation
- External debt grows 3.3% m/m to EUR 18.65bn at end-June
- State budget records deficit of 0.4% of GDP in Jan-Jul
- Trade minister assures bread price will not be hiked
- PepsiAmericas reportedly confirms talks for Knjaz Milos acquisition
- Economy minister meets Zastava trade unions, accepts social programme
- Prosecutor’s office charges two Serbs for war crimes in Bosnia
- Jobless rate slightly declines to 25.2% in May
- Coca-Cola and PepsiCo reportedly eye water bottler Knjaz Milos
- Country to renegotiate sale price for oil company NIS
- Deputy PM urges EU to support Serbia’s EU bid with swift and concrete actions
- President Tadic says country will fully cooperate with war crimes court
- DS expects power-sharing deal in Belgrade to be reached in mid- August
- Lending growth moderates to 32.2% y/y in June
- Local currency hits highest value against euro since 2004
Stories
Gazprom Neft purchase of Serbia's NIS faces delay over price row - The deal for Russia's Gazprom Neft to buy a 51% stake in Serbia's oil and gas company NIS could be delayed after Serbia's economy minister Mladjan Dinkic said the ministry had hired a consultant to evaluate the true value of NIS, the Serbian government said late Wednesday in a statement. Dinkic said that consultancy Deloitte & Touche would complete the NIS valuation by early September, and that the valuation would be used for negotiating the sale price of the company. In May, the Serbian government adopted a wide-ranging energy agreement with Russia that would see Gazprom Neft buy a 51% stake in NIS for Eur400 million ($588 million) and give Gazprom a stake in a gas storage facility. In exchange, Serbia would become a transit country for the South Stream gas pipeline to Europe from Russia. However, since the deal was adopted Dinkic has said the purchase price for NIS was too low. He said the previous government agreed the sale price for NIS without having concluded an evaluation of the company's market value, adding that he hoped it would be possible to "make an arrangement that will satisfy both sides." However, Gazprom Neft has been adamant that the Eur400 million price tag should stick.
PepsiCo In Talks To Buy Serbian Soft Drink company Knjaz Milos - American soft drink giant PepsiCo Inc. is in talks to acquire Serbian mineral water and juice bottler Knjaz Milos, owned by UK-based investment fund Salford Capital Partners, Serbian independent radio and TV station B92 reported on Wednesday. No details will be disclosed until the talks reach their final stage, said an unnamed source from Pepsi, quoted by B92. No company officials from either Knjaz Milos or the Serbian unit of Pepsi, which will carry out the negotiations on behalf of the American company, were available to comment for SeeNews. "It is absolutely normal that Salford, being an investment fund, has decided to sell Knjaz Milos," the corporate and regulatory affairs director of Salford's Danube Foods Group, Rade Pribicevic, was quoted as saying. Besides Knjaz Milos, Salford owns Serbia's leading dairy Imlek and confectionery maker Bambi-Banat in Serbia, and several other dairy firms in Bosnia, Montenegro and Macedonia, all through its Dutch-registered unit Danube Foods Group. Pribicevic has said Salford plans to start a new investment cycle in southeast Europe using proceeds from a planned sale by the middle of next year its current portfolio of food firms in the region.
Telekom Srbija to List on London, Belgrade Stock Exchanges Next Year – Majority state-owned Telekom Srbija will next year list simultaneously on the London Stock exchange and the Belgrade Stock exchange, Serbian Economy Minister Mladjan Dinkic told local Beta news agency on Thursday. “Telekom will be the first Serbian company whose shares will be listed on the London stock market, unless some private company is faster,” Dinkic told Beta in an interview. He added that simultaneously with the London listing the telco’s shares will be listed on the Belgrade Stock exchange in the first big initial public offering (ipo) of a state-owned company on the Serbian market. Telekom Srbija is one of the six companies, in which, according to a new Serbian legislation, all Serbian citizens who have not taken part in the privatisation of state-owned companies up to now and who have turned 18 as of December 31 are entitled to free shares once these companies are offered for sale. Under the law, 15% of the capital of each company can be offered to citizens. The other companies on the list are oil monopoly Naftna Industrija Srbije (NIS), power utility Elektroprivreda Srbije (EPS), flag carrier JAT Airways, Belgrade international airport operator Nikola Tesla and the country's largest drug maker, Galenika. Serbia owns 80% of Telekom Srbija, Greek telecom group OTE owns the remainder.
The Serbian telecoms company has said it plans to raise its gross profit by 42% to 21.4 billion dinars ($436 million/282 million euro) in 2008. It is the single provider of fixed-line services in the country. It also controls some 70% of the domestic mobile services market. Telekom Srbija is the majority owner of the second-largest telecoms company in neighbouring Bosnia and of the newest mobile operator in Serbia’s southern neighbour Montenegro, MTel.
Stocks - Full report (table)
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04-08 Aug 2008 Sinteza Weekly.pdf, 382 Kb
