Business News

Fructal Takeover Gets Regulatory Approval

Ljubljana, 05 October (STA) - Serbian beverage company Nectar has received the go-ahead from the Slovenian anti-trust watchdog for the takeover of Slovenian soft-drinks maker Fructal.

Market concentration will not increase as Nectar has so far not had a significant market share in Slovenia, the acting director of the Competition Protection Office Damjan Maticic told Wednesday's Delo.

The takeover will be finalised after regulatory approval in all other markets where Fructal and Nectar are present: Bosnia-Herzegovina, Macedonia, Montenegro and Serbia.

Vladimir Malenkovic, the chief supervisor of beverage group Pivovarna Lasko, which sold Fructal, said the takeover could be completed in the autumn although regulatory approval might also take longer.

Nectar bought Lasko's 93.7% stake in Fructal for just over EUR 50.2m including debt in late July.

Once regulatory proceedings are completed, Nectar will have to publish a takeover bid for the remaining stock.

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