Serbia’s Victoria Group to squeeze out minority homeowners in Sojaprotein
BELGRADE, Serbia, October 7 (SeeNews) – Serbian agro-industrial conglomerate Victoria Group has squeeze out 1,326,291 shares in blue-chip soy protein processing company Sojaprotein. initiated [BEL:SJPT] it still doesn’t own, said Victoria Group.
The shares will be purchased at a price of 180 dinars (1.7 USD / 1.5 euros) each, which is the price the Victoria Group said in a filing on the Belgrade Stock Exchange on Friday on the 2nd.
The squeeze-out will be completed within two working days of the listing, the Victoria Group announced.
According to Serbian company law, shareholders who own at least 90% of the capital of a company can initiate a compulsory exclusion of minority owners who have not accepted the purchase offer.
The Victoria Group bought 177,931 soy protein stocks at a price of 180 dinars each. Upon completion of the takeover offer, the Victoria Group will hold 12,466,842 shares of Sojaprotein.
The soybean processing company is one of 11 members of the blue-chip index BELEX15 of the Belgrade Stock Exchange. It has 13,793,133 listed stocks with a Free Float (FFc) of 9.62%, which is 0.73% of the index’s total capitalization.
(1 euro = 117,456 dinars)