Imlek and Mlekara Subotica to purchase remaining shares of Banjaluka's Mljekara

Belgrade-based Industry of milk and dairy products Imlek and Mlekara Subotica dairy have announced a public tender offer for takeover of the shares of Mljekara Banja Luka.

On the day of the announcement of the offer, Imlek and Mlekara own 8,290,543 shares of Banja Luka-based Mljekara, which represents 8,290,543 votes in the Assembly of Mljekara or 63.503436% of total number of votes.

The offer is open for all shareholders of Mljekara who own the shares with the right to vote in the company's Assembly. The bidder promises to buy every share with the voting right in the company's Assembly under the conditions laid in the offer. The bidder promises to pay the amount of KM 0.1092 (about EUR 0.0546) for each share that is subject to this offer.

It is added in the text that the aims of the bidders are to develop the company's primary activity, strengthen and increase the profitability of operations using the synergy with other members of Danube Foods Group, of which member is Mljekara a.d. Banja Luka, as the market leader with the share of 25%.

- In the first phase following the takeover, with the starting capacity of processing 50,000 liters of milk per day, 48 people are planned to be employed, with an investment of about 2 million euros. The company will strive to provide long-term partners for milk distribution on the territories of Bosnia and Herzegovina, Serbia and Croatia - it is stated in the bid for takeover.

Nebojsa Ristic, the Director of Banjaluka's Mljekara, says that nothing important will be changed from the viewpoint of Mljekara in case of the success of the bid.

- Public offer is a part of the strategy for including the Banja Luka-based dairy in Imlek Group, which already owns over 50% of its shares - said Ristic. He added that Mljekara would be soon moved to Industrial zone Aleksandrovac, in the municipality of Laktasi, and settled in a contemporary production center.