BELGRADE (Serbia), November 17 (SeeNews) – Serbian agricultural conglomerate MK Group said on Thursday it has acquired local meat processing company Carnex.
MK Group did not disclose the financial parameters of the deal in an emailed statement.
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Carnex’s further strategic development will be based on boosting production and exports and on introducing new products, the statement said.
“In the past ten years, MK Group has been strategically orienting towards agricultural production and the food industry, considering the fact that these two economic branches have the biggest potential for development and also taking into account rising demand for food and food products,” the head of the MK Group management, Miodrag Kostic, was quoted as saying in the statement.
Prior to the deal, London-based investment fund Ashmore Group controlled some 92% of Carnex with the remaining around 8.0% held by smaller shareholders.
MK Group (www.mkgroup.rs) comprises companies active in agriculture, sugar production, trade, tourism, information technologies, real estate, stock exchange brokerage services and wind energy. It has a subsidiary in Ukraine, Agro Invest Ukraine, which operates some 30,000 of farmland.