July 18 (SeeNews) - French dairy producer Lactalis has acquired 93.62% of leading Croatian sector company Dukat, the Zagreb bourse said on Wednesday.
The French company agreed to buy 91.5% of Dukat from Croatian businessman Luka Rajic in March for some 2.0 billion kuna ($378.1 million/274.4 million euro). In June it made a buyout offer of 749.78 kuna per share to small shareholders.
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Upon the expiry of the buyout offer, Lactalis holds a total of 2,808,478 ordinary shares with a par value of 100 kuna each, or 93.62% of Dukat, the Zagreb Stock Exchange (ZSE) said in a statement.
Lactalis (www.lactalis.fr) is a family-run group based in Laval, western France. It is present in 140 countries and its major brands include President, Bridel, Valmont and Lactel. The group is the biggest cheese producer in Europe and the second biggest dairy producer in the world. Last year its total revenue rose to 7.4 billion euro ($10.2 billion) from 6.2 billion euro in 2005. The company plans to raise its revenue to 9.0 billion euro this year.
Dukat (www.dukat.hr), formerly Lura, says it is a leader among dairy producers in the countries of former Yugoslavia.
(1 euro= 7.2864 Croatian kuna)