Agri Europe Cyprus to announce bid for Addiko Bank in mid-May

The company Agri Europe Cyprus, owned by the businessman Miodrag Kostic, will announce the bid for the takeover of the shares of the Viennese Addiko Bank AG in mid-May.

The Austrian Takeover Commission has announced that the bid will be announced “on May 13, 2024, at the earliest, and on May 16, 2024, at the latest.”

On March 25 this year, by taking over 10% of the shares of Addiko Bank, Agri Europe announced the voluntary initiation of the bid for the acquisition of an additional 17% shares of the bank. By April 10, the company had to notify the regulatory body of its bid.

The deadline was extended until April 24, due to, as announced, “changed circumstances” and the need to assess the new ownership structure of Addiko Bank in an additional preparatory procedure. Among other things, Agri Europe wants to clarify that it is not acting in agreement with the Serbian Alta Pay Group, which announced on March 28 that it has bought 9.63% of Addiko Bank, and that it has optional agreements with other shareholders for increasing the stake to 29.59%.

Agri Europe announced the purchase of the shares of Addiko at a price of EUR 17.5 per share. The current price of the bank’s share on the Vienna Stock Exchange is EUR 18.

Agri Europe Cyprus

Agri Europe Cyprus

Addiko Bank AG

Vienna Stock Exchange

Miodrag Kostić

price of shares of Addiko Bank