Istrabenz, the tourism and energy group, has acquired 73 percent of Ljubljana-based food company Kolinska through its official takeover bid, raising its total stake in the company to 93.22 percent.
According to a press release from Istrabenz, 2,181 shareholders of Kolinska accepted the takeover offer, selling it 73.35 percent of the shares.
The offer expired at noon on Friday. All major Kolinska shareholders accepted the offer to sell at SIT 6,500 (EUR EUR 27.11) per share, which values the food company at SIT 20.6bn (EUR 85.91m).
The last major owners to sell were the state-owned Pension Fund Management (KAD) and Restitution Fund (SOD), which held 11.56 and 10.59 percent, respectively.
The takeover had previously been given approval by the management board of Kolinska. Moreover, its members are among the many small shareholders who have already sold their shares to Istrabenz.
Istrabenz CEO Igor Bavcar has said that the takeover will be a step forward in the company's bid to consolidate Slovenia's food-processing industry.
Istrabenz also owns a share in Droga, another Slovenian food company, which is planning to merge with Kolinska. At the last count, that stake was around 6 percent.
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