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Sep 26, 2023 13:07 EEST
September 26 (SeeNews) - Croatian milling companies Mlin i Pekare and Plodinec and pension fund managers Allianz ZB and PBZ CO plan to submit a takeover bid for the 35.47% interest they do not already own in milling company and retailer Cakovecki Mlinovi [ZSE:CKML], the law firm representing the consortium in the transaction said.
Per local regulations governing corporate takeovers, the partners are required to initiate the takeover bid starting from September 25, 2023.
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The consortium holds 6,640,428 shares in Cakovecki Mlinovi. The company's total equity capital amounts to 13.7 million euro ($14.5 million), distributed among 10,290,000 shares, each with a par value of 1.33 euro.
Cakovecki Mlinovi operates in two key business segments: Retail and Wholesale Trade, encompassing both food and non-food items, and Food Production, which involves the manufacturing of flour, bakery products, and cooking oils.
At the end of June, Cakovecki Mlinovi operated 438 stores located in northwestern Croatia, Kvarner and the island of Krk. The group had 2,319 employees.
Cakovecki Mlinovi’s shares traded 1.90% higher at 10.70 euro intraday on Tuesday. Since last week, the company is a member of the 20-share equity benchmark, the Crobex index, of the Zagreb bourse.
($ = 0.943 euro)
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