Delta M to buy C market

Company Delta M, owned by businessman from Belgrade, Miroslav Mišković, has signed the contract with the Association of minor stockholders of C market on procurement of their share in that public company. According to the statement of the legal representative of minor stockholders, Branko Pavlović, Delta M obliged to collect orders of minor stockholders of C market for transfer of their ownership share at agreed terms until September 15. After that date Delta M will no longer have obligation towards those who decide to sell their stocks.

Pavlović announced that the transaction would not be carried out on the securities market, but through signing of individual contracts on transfer of ownership share. According to his announcement, Delta M will, in this way, become one of the co-owners with, most probably, majority package of stocks of C Market.

Association of minor stockholders owns over 51% of the assets of C Market, whereas the State holds property over 23% of the assets of that trade company. That means that Delta M can become majority owner of C Market if it buys 27% of assets from the minor stockholders and State-owned share.

Although it is a business secret, legal representative of minor stockholders says that the offer of Delta M is more favorable than the one by Mercator that offered starting price of 18,000 CSD per stock.