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Serbia's Sremska Mlekara extends deadline for DIB buyout bid

Author Radomir Ralev
Serbia's Sremska Mlekara extends deadline for DIB buyout bid Cigarette. Author (Wikicommons) License all rights reseved.

BELGRADE (Serbia), April 13 (SeeNews) - Serbian brokerage firm M&V Investments said on Friday dairy group Sremska Mlekara has extended to April 23 the deadline for the acceptance of its buyout bid for a 42.07% stake in local tobacco company Duvanska Industrija Bujanovac (DIB) [BEL:DIBB].

Sremska Mlekara is offering to pay the equivalent of 34.95 euro ($43.1) in Serbian dinars per each of the 14,274 shares it does not own in DIB, MV Investments said in a filing to the Belgrade Stock Exchange.

In March, DIB said the takeover offer was valid until April 16, 2018.

M&V Investments was hired for the preparation of the buyout bid, the brokerage firm said.

The share price of DIB currently stands at 11,453 dinars ($119.2/96.7 euro), according to data from the Belgrade Stock Exchange. There were no deals involving the shares of the company in the last three years.

($ = 0.811526 euro)