Still no bid for acquisition of 7.1-percent stake in Carnex

Twelve days ago Novi Sad-based MK Group announced its intention to acquire a 7.1-percent stake in the meat industry Carnex, but the official takeover bid has not been approved and published to date. According to the Law on Takeover, the Securities Commission is to make a decision on the takeover bid within two days after the intention is submitted, but in special cases this period can be extended to maximum ten days.

In its letter of intent for the acquisition of 7.1% of the Carnex shares, MK Group announced that it had joined forces with the previous majority owner of Carnex - Ashmore investment fund, and that it intended to acquire only the shares in the possession of minor shareholders.

Ever since MK Group submitted its letter of intent, the price of shares of Carnex has grown by 4.2%, reaching RSD 2,000. At this level, the market capitalization of this Vrbas-based meat industry amounts to RSD 3.3 billion (EUR 31.4 million).