Serbia's MK Group opens buyout bid at agriculture firm Djuro Strugar.

By bne IntelliNews April 20, 2012
Serbian agriculture conglomerate MK Group said it has launched a buyout bid for the remaining 10% in local farming firm Djuro Strugar it does not yet own. MK Group plans to buyout all 60,420 outstanding Djuro Strugar stocks, paying RSD 1,150 (EUR 10.3) per each, it said in a filing with the Central Securities Depository and Clearing House. The bid is open until May 8. Djuro Strugar has been part of MK Group since 2006. It has some 2500 hectares of arable land and grows vegetables, fruit and other farming products. The company also provides grain storage services. Earlier this month, MK Group started a buyout at another local agriculture firm, Selekcija. It also said it has raised its stake in a third farming firm, Labudnjaca, to 91.18% from 89.5% following a buyout bid. The group owns companies active in agriculture, sugar production, trade, tourism, information technologies, real estate, stock exchange brokerage and wind energy. Last year, it acquired local company Carnex from London-based investment fund Ashmore, thus entering the meat processing business.

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