August 12 (SeeNews) - North Macedonia's PI Swisslion, a unit of Serbian confectionery group Swisslion Takovo, said it has increased its stake in local food producer Agroplod AD Resen [MSE:AGR] to 98.5% after shareholders controlling 30.05% interest among themselves accepted its buyout offer.
Pi Swisslion's offer was accepted by 13 Agroplod shareholders holding a total of 7,956 ordinary shares in the food producing company, the confectionery group said in a statement.
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PI Swisslion had not set a success threshold for its buyout offer, which closed on August 7.
PI Swisslion, a majority shareholder in Agroplod since 2006, announced in May that it plans to launch a takeover offer for the remaining stake of 31.59% it did not already own, proposing to pay 13,530 denars ($258/219 euro) per share.
Agroplod was established in 1967. The company is mainly active in food production and also provides hotel services.
(1 euro = 61.67 denars)