Serbian businessman exits ownership of Victoria Group - report.

By bne IntelliNews December 6, 2011
Serbian businessman Stanko Popovic is no longer a shareholder in Victoria Group, daily Dnevnik reported quoting unofficial information. Popovic has left Serbia's leading agriculture conglomerate and plans to enter cement production business. Dnevnik also reported that Victoria Group's director general Nikola Vujacic will soon vacate his post. Vujacic declined to confirm this information to the daily but said the company is undergoing transformation and the public will be informed about it in the coming days. Victoria Group is 64%-owned by local businessmen Popovic, Milija Babovic and Zoran Mitrovic, Dnevnik said. The European Bank for Reconstruction and Development holds a 24% stake in the company following a EUR 40mn capital hike in 2009. Victoria Group is the majority owner of soybean manufacturer Sojaprotein and fodder producer Veterinarski Zavod, both of which are blue-chip companies on the Belgrade bourse. The group also owns edible oil and biodiesel manufacturer Victoria Oil, Novi Sad-based Victoria Logistic and several other agriculture-focused companies. Dnevnik said that Victoria Group annually invests EUR 150mn and partners with 25,000 farmers, becoming the largest single buyer of wheat and maize in Serbia, as well as the country's larger grain exporter.

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