Serbian wholesaler of pesticides, seeds and garden appliances Agromarket has launched a buyout bid for the shares it does not yet own in local peer Galenika Fitofarmacija. Agromarket with the persons with whom it operates owns a total of 89.8% of shares, so it is quite certain that it will exceed the threshold of 90% ownership, which will then allow it to force the purchase of shares from shareholders who do not accept the offer. The takeover bid is open from March 30 to April 19 this year.
Galenika Fitofarmacija has been producing plant protection products since 1955. They operated as part of the pharmaceutical company Galenika or as a subsidiary within Galenika Holding until 1997, when they became an independent, socially owned entity. Since 1999, they have been privately owned by a large number of shareholders. Their shares have been traded on the Belgrade Stock Exchange since 2001.
