ZAGREB (Croatia), August 26 (SeeNews) – Croatia’s financial services regulator Hanfa said it has granted approval to Fortenova, the successor to the collapsed food-to-retail concern Agrokor, to launch a buyout bid for the remaining 8.35% interest in food wholesaler Zitnjak [ZSE:ZTNJ] that it does not already own.
Fortenova will offer to pay a price of 300 kuna ($39.8/39.9 euro) per each Zitnjak share, Hanfa said in a statement late on Thursday.
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Fortenova is obliged to make the tender offer following the acquisition of a 5.02% stake in the company from Split-based Capturis on June 7 and the purchase of a 2.06% stake from individual Zvonimir Vukadin on June 7. Following these acquisitions, Fortenova holds 91.65% of the company’s capital.
The food wholesaler’s capital totals 141.9 million kuna distributed in 205,643 shares with a par value of 690 kuna each.
Zitnjak’s shares last traded on August 17 on the Zagreb bourse, closing flat at 135 kuna.
Earlier this year, Zitnjak said its net profit rose to 555,000 kuna in 2021, from 394,000 kuna in 2020.
(1 euro=7.514 Croatian kuna)
