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Cooperatives Publish Takeover Bid for Ljubljanske mlekarne (adds)

Ljubljana, 19 September (STA) - Mlekodel, a milk trading company established by a handful of Slovenian cooperatives, published on Wednesday a takeover bid for Slovenia's biggest dairy Ljubljanske mlekarne, offering EUR 6.50 per share. Mlekodel and other companies in the acquisition consortium currently hold a 31.97% stake in the dairy.

The offer, published by Mlekodel, also acting on the behalf of the DBS bank and 35 cooperatives in the consortium, will be valid from Thursday until noon on 19 October, according to a release published on the website of the Ljubljana Stock Exchange.

There was no threshold set for the success of the bid for Ljubljanske mlekarne, which incurred a net loss of almost EUR 130,000 in 2011, down from a EUR 1.8m net profit the year before.

The company employing over 552 workers holds a 30% share on the long-life milk market, 25% share on the yoghurt market, 29% share on the ice cream market and 18% share on the cheese market.

According to an additional press release by Mlekodel, the consortium believes the takeover will allow them to secure long-term stability on the milk production and processing market, while also offering consumers a quality supply of local milk and dairy products.

The consortium, which is to present more details on Friday, said the takeover bid was also aimed at securing long-term development of the company and its competitiveness on the global market.

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