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Macedonian regulator bans publication of takeover bid for Makpetrol

Macedonian regulator bans publication of takeover bid for Makpetrol Author: Makpetrol. Licence: All Rights Reserved.

SKOPJE (Macedonia), September 19 (SeeNews) - Macedonian fuel retailer Makpetrol [MSE:MPT] said on Friday the country's Securities and Exchange Commission (SEC) has banned Balkan Petroleum Holding Limited from publishing a takeover bid for the company.

The regulator took the decision on December 29, 2017, Makpetrol said in a bourse filing.

Balkan Petroleum announced its intention to launch a takeover bid priced at 25,908 denars ($510.9/421.5 euro) per share in June 2016.

Since then, the regulator has asked Balkan Petroleum several times to provide additional information about its intentions to acquire Makpetrol but the company has failed to do so.

Makpetrol has a network of over 100 filling stations across Macedonia. The company also has units in neighbouring Serbia and Greece.

(1 euro = 61.4597 denars)

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