November 23 (SeeNews) - Bosnian edible oil producer Bimal Brcko [SAJ:BBR9] said its shareholders will vote on the planned acquisition of a majority stake in Serbian livestock food factory Becejka, owned by food producer Erakovic.
The Bimal shareholders meeting will take place on December 21, Bimal said in a bourse filing on Monday.
You can download the 2023 Agriculture industry in Southeast Europe report here
You can subscribe to our M&A newsletter here
Bimal signed a Memorandum of Understanding (MoU) with Becejka to acquire a majority stake in the Becej-based factory in May.
Bimal intends to buy a 66.67% stake in Becejka, while the remaining 33.33% will belong to Erakovic's co-owner Veselin Erakovic, Serbia's Commission for Protection of Competition said in an earlier filing.
After the acquisition, Bimal plans to merge Becejka with its Serbian unit based in Becej, Bimal Agri. At the end, Bimal will own a 84% stake in the merged firm, and Veselin Erakovic will control 16% of the combined company, the filing read.
Currently, Erakovic is equally owned by Veselin Erakovic and Aleksandra Erakovic.