Business News

DZS, Dnevnik Increase Stake in Delo Prodaja

Ljubljana, 06 June (STA) - Publishers DZS and Dnevnik, along with website design company Hipergo, have acquired an additional 9.45% stake in newsstand operator Delo Prodaja to increase their combined stake to 34.34%.

The EUR 975,000 deal, announced in Monday's Dnevnik, came as part of a takeover bid launched on 6 May in which the companies were offering EUR 21 for each of the Delo Prodaja shares not yet in their ownership.

Prior to the bid, for which no success threshold was determined, DZS held a 21.06% stake in Delo Prodaja, whereas Dnevnik, which is in majority ownership of DZS, had 3.83%.

The biggest single owner of Delo Prodaja was consultancy firm Maos with 29% and was followed by DZS.

Croatian bank Privredna banka Zagreb held 17.25% and Hypo Bank from Ljubljana 4.83%, according to Delo Prodaja's annual report for 2010.

Delo Prodaja generated net sales revenues of EUR 46.2m last year. It closed the year at break even.

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