You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Serbia's Sremska Mlekara launches buyout bid for tobacco firm DIB

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

BELGRADE (Serbia), March 23 (SeeNews) - Serbian dairy group Sremska Mlekara said on Friday it launched a buyout bid for the 42.07% stake it does not yet own in local tobacco company Duvanska Industrija Bujanovac (DIB).

Sremska Mlekara is offering to pay the equivalent of 34.9 euro ($43.1) in Serbian dinars per each of the 14,274 shares it does not own in DIB, the dairy group said in a filing to the Belgrade Stock Exchange.

The takeover offer is valid until April 16, 2018.

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.

($ = 0.810013 euro)

Compare