Croatian "Fermopromet" to take over PIK "Moravica"

Croatian agricultural company "Fermopromet" has announced the bid for takeover of remaining 16.66% of stocks of agricultural company PIK "Moravica" from Stara Moravica at the price of 3,300 RSD per stock.

The bidder intends to take over 23,845 stocks and the offer will be opened prior to September 10.

Company "Fermopromet" with the headquarters in Stari Bezdan in Croatia, which owns company "Fermopromet-Kišpal", already owns 83.34% of stocks of PIK "Moravica".

PIK "Moravica" owns 1,600 ha of agricultural land, 32.6 ha of building land and administrative building at more than 5,800 square meters.

On the Belgrade STock Exchange, the stocks of PIK "Moravica" were worth 3,021 RSD per stock on the closing day, August 20. Total incomes of that company in 2007 amounted to 255.5m RSD, while total expenses amounted to 248.7m RSD.