Business News

Takeover Bid Values Ljubljanske Mlekarne Dairy at EUR 38m

Ljubljana, 19 April (STA) - Croatian dairy Dukat published Friday a takeover bid for the 49.7% of Slovenian dairy Ljubljanske mlekarne that it does not already own. It is offering EUR 8.75 per share, valuing the entire company at just over EUR 38m. The offer is valid through 20 May.

Dukat, a part of the French group Lactalis, acquired the majority stake in Slovenia's biggest dairy last month for an undisclosed sum.

According to law, it was obligated to publish a takeover bid for the outstanding stock, offering at least as much as it paid for the majority stake.

The Croatian company bought the majority stake after a consortium of Slovenian cooperatives failed with its EUR 6.5 per share offering.

Ljubljanske mlekarne processes 200 million litres of milk per year and employs a 500-strong workforce at three locations in Slovenia and one in Bosnia-Herzegovina.

The acquisition strengthens Lactalis's presence in SE Europe, where it is already one of the biggest players in the industry.

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