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Serbian investor launches squeeze-out bid at agri firm Kacarevo

Author Radomir Ralev
Serbian investor launches squeeze-out bid at agri firm Kacarevo Source: FAO; Author: Igor Pavicevic

BELGRADE (Serbia), June 12 (SeeNews) - Serbian entrepreneur Srdjan Aleksa has proposed to squeeze out minority shareholders in farming and cattle breeding company Kacarevo [BEL:KCRV], it said on Wednesday.

Aleksa plans to acquire 1,721 shares held by minority shareholders, which represent a 1.99% stake in the company's capital, at a price of 6,792.60 dinars ($64.6/57 euro) apiece, Kacarevo said in a filing to the Belgrade Stock Exchange.

The entrepreneur currently owns a 60.9% stake in Kacarevo and acts in cooperation with Miroslav Aleksa, who owns a 36.3% shareholding interest, and local company Almex, with a stake of 0.78%. 

Almex is controlled by Miroslav and Srdjan Aleksa, who 60 and 40% of the company, respectively, data from the Serbian Commercial Register shows.

Kacarevo produces wheat, corn, soybeans, sugar beet, sunflower and 2 million litres of milk per year, according to data from the company's website.

(1 euro = 119.147 dinars)