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Don Don launches 6.3 mln euro buyout of Serbia's Zitopek

Jun 24, 2024, 12:48:45 PMArticle by Iskra Pavlova
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June 24 (SeeNews) - Serbian bakery Don Don, part of Slovenian industrial baked goods maker Don Don Group, said on Monday it is launching a buyout bid for the remaining 49.20% of local peer Zitopek [BEL:ZTPK] it does not already own, offering to pay some 738 million dinars ($6.8 million/6.3 million euro) for the whole stake.

Don Don launches 6.3 mln euro buyout of Serbia's Zitopek
Photo: Don Don

Don Don is offering to pay 6,047 dinars ($55.3/51.7 euro) per each of the 121,977 Zitopek shares it targets, it said in a filing with the Belgrade bourse.

The bid will remain open until July 15, the statement read.

In the takeover bid, Belgrade-based Don Don said it acts together with its Slovenian parent Don Don and its two owners - Slovenian trade company Amal Nalozbe and Slovenian investment firm KJK Investicije 2, and also with Luxemburg-based firms KJK Discovery Holding and KJK Balkan Holding (both of which own KJK Investicije 2), as well as with Madrid-based BB Global Investing Holding SL.

Don Don now owns 125,922 Zitopek shares, or a stake of 50.80% in the Nis-based company.

Zitopek's shares last traded on the Belgrade bourse on May 16, closing down 0.3% to 8,430 dinars.

(1 euro = 117.056 dinars)

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