December 8 (SeeNews) - Croatian dairy company Vindija, the majority owner of local poultry producer Koka [ZSE:KOKA], said on Wednesday it is not not interested in selling any shares in Koka to local winery Kutjevo, following expression of interest by Kutjevo.
“We want to inform the management of Koka, its other shareholders and all interested parties that Vindija, as owner of 96.36% of all issued shares of Koka, has no intention to sell any of its shares now or in the future,” Vinidija said in a statement sent to the Zagreb Stock Exchange.
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Vindija is not holding any negotiations and does not plan to negotiate to sell Koka's shares, it added.
On Tuesday, Dragivecic I Partneri law firm representing Kutjevo announced that as part of its expansion and investment intentions, the winery has shown interest to invest in Koka by acquiring shares in the company, and requested a meeting with Koka's management to discuss takeover opportunities, or other investment opportunities.
The ZSE put Koka's shares in the segment for monitoring on Tuesday following the announcement of interest by Kutjevo.
Vindija also said in its statement that Koka is a key member of the Vindija food group responsible for the implementation of part of its business strategy.
Koka's shares surged to 550 kuna ($83/73 euro) intraday on Wednesday, up 18.03% from their last closing price of 466 kuna on November 11.
(1 euro=7.524 Croatian kuna)