Centro Hrana to become 100-percent owner of Centroproizvod

The majority owner of Belgrade-based Centroproizvod, Centro Hrana, has announced a bid for the acquisition of remaining 4.9 percent of shares in the possession of minority shareholders at the price of RSD 1,404 per share.

This takeover bid will be open between May 11 and 31. At the same price, Centro Hrana took over 20,253 shares of Centroproizvod (0.8 percent of the total number) in late 2010.

Concerning the fact that the majority owner of the company, which is specialized in the production of food and powder products, owns over 95 percent of shares of Centroproizvod, it is expected that the bid will be followed by the forced purchase of shares from shareholders who are not satisfied with the current bid price.

Centroproizvod registered a business revenue of RSD 4.1 billion last business year and turned a net profit of 128.7 million dinars.

With the bid price of RSD 1,404 per share, the market capitalization of Centroproizvod amounts to RSD 3.4 billion (EUR 34.2 million).