July 29 (SeeNews) - Bulgarian pork producer Svinecomplex Nikolovo [BUL:6SN] said on Monday that local meat and animal feed producer Viand has launched a mandatory buyout bid for the remaining 34.78% stake in the company it does not currently own, after acquiring a majority stake earlier this month.
Viand is offering to pay 0.93 levs ($0.53/0.48 euro) per each of the 1,217,039 shares it wants to acquire, Svinecomplex Nikolovo said in a bourse filing.
You can download the 2023 Agriculture industry in Southeast Europe report here
You can subscribe to our M&A newsletter here
Svinecomplex Nikolovo shares last traded on the Bulgarian Stock Exchange in June 2016, at a price of 3.3 levs apiece.
Viand acquired a 65.22% stake in Svinecomplex Nikolovo from local Pimaro Bulgaria and Hybrid earlier this month. Pimaro Bulgaria sold a 33.06% stake in Svinecomplex Nikolovo, while Hybrid divested a 32.16% stake.
Earlier this month, Bulgaria's Food and Safety Agency said that it has confirmed the presence of African swine fever in a sample from Svinecomplex Nikolovo's farm, saying that all 17,000 pigs at the farm will be culled.
(1 euro = 1.95583 levs)