Slovenia's January net power output rises 2% m/m
Ljubljana stock exchange indices start week down
Croatian share indices close barely changed in higher turnover
Bosnia's building permits up 5.8% y/y in Jan
Bosnia's Federation building permits down 2.7% y/y in Jan
Oct 12, 2022 12:45 EEST
October 12 (SeeNews) - Bulgarian farming company Agria Group Holding [BUL:AGH] said that it has submitted an offer to acquire local bioethanol producer Almagest, aimng to ensure presence in the market for renewable energy sources.
After successful completion of negotiations, Agria expects to sign an agreement to buy 441,866 shares, representing 100% of Almagest’s capital, Agria said in a bourse filing on Tuesday.
You can download the 2023 Agriculture industry in Southeast Europe report here
You can subscribe to our M&A newsletter here
Financial details of the potential deal were not disclosed.
Almagest is focused on storing and processing grain for the production of bioethanol, which is used as a substitute for petrol in internal combustion engines.
The potential investment would provide Agria with access to the market of renewable energy sources and would help the company to position itself in various regions of the country. The deal also offers potential for synergies with Agria’s existing operations. Overall, the investment would result in long-term security and sustainability of the company's business model, improved cash flow and value creation, Agria said.
By 0914 CEST, Agria shares traded flat at 25.40 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options