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Nov 13, 2019 15:22 EEST
November 13 (SeeNews) - Serbian wholesaler of pesticides, seeds and garden appliances Agromarket DOO and other minority shareholders of local Galenika Fitofarmacija [BEL:FITO] on Tuesday announced their intention to launch a buyout offer for the remaining shares of the agricultural chemicals maker they do not own.
The bidders intend to purchase a total of 896,776 shares, representing 33.97% of Galenika's share capital, according to a filing with the Belgrade Stock Exchange.
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The suitors have committed to submitting the offer with the Serbian regulatory authorities within 15 working days and launching it as soon as they obtain clearance.
Agromarket currently holds 1.56 million Galenika shares, or 59.17% of its share capital. Alongside the wholesaler, three minority investors Dragan Nenadovic, Milomir Nenadovic and Zorica Nenadovic, with a combined 6.68% shareholding intend to participate in the offer.
Galenika last traded on the Belgrade Stock Exchange on Tuesday at a price of 3,024 dinar ($ 28.33/25.74 euro) per share.
($ = 0.9086 euro)
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