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Serbia's Banija-Pal makes buyout offer for agri firm Jadran

May 23, 2022, 10:34:00 AMArticle by Branislav Urosevic
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May 23 (SeeNews) - Serbian wood packaging maker Banija-Pal said it is offering to acquire the remaining 0.26% stake in local grain producer Jadran [BEL:JDNG] it does not already own.

Serbia's Banija-Pal makes buyout offer for agri firm Jadran
Jadran Nova Gajdobra

Banija-Pal is looking to buy 287 shares at 3,428 dinars ($30.9/29.2 euro) apiece, the company said on Friday in a filing to the Belgrade Stock Exchange.

The company bought the initial 111,093 shares, or a 99.74% stake in Jadran, in November 2021, according to an earlier filling. It announced an intent to buy the remaining stake in Jadran in April, without disclosing the price at the time.

Jadran posted a pre-tax loss of 13.54 million dinars in 2021 and 11.32 million dinars in 2020.

Banija-Pal was founded in 2005, according to trade registry data. It's wholly owned by local entrepreneur Milorad Ostojic.

(1 euro = 117.492 dinars)

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