Serbia's Delta Agrar starts buyout bid at flour milling company Danubius.

By bne IntelliNews July 9, 2012
Serbia's Delta Agrar said it is launching a bid to buy out the remaining 10% of flour milling company Danubius it does not yet own. Delta Agrar aims to buy all 16,089 outstanding Danubius shares between July 6 and July 27, it said in a filing with the securities commission. The buyer offers to pay RSD 7,850 (67.8) per share. Delta Agrar was set up in 1993 as part of diversified Delta Holding. Delta Agrar employs 1,500 workers and is present on the markets of the countries in the region and the European Union, as well as in Russia and Switzerland. It has said it eyes a trade turnover of EUR 302mn in 2011, up from EUR 265mn in 2010.

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