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Slovenia Business Week no. 08/2005: Perutnina Ptuj Set to Expand with New Takeover

Perutnina Ptuj, the largest poultry company in Slovenia, will add about 1,500 hectares of farmland to its portfolio if it succeeds with a friendly takeover bid for Agrokombinat Maribor

Perutnina Ptuj, the largest poultry company in Slovenia, will add about 1,500 hectares of farmland to its portfolio if it succeeds with a friendly takeover bid for Agrokombinat Maribor, which was published on Monday, 14 February.

Perutnina, which already owns 1.5 percent of the takeover target, is willing to purchase all remaining shares at a price of SIT 1,000 (EUR 4.17) per share, which is equivalent to the book value. This sets the price of Agrokombinat Maribor at just over two million euros.

The Agrokombinat management does not oppose the bid and considers it in line with the company's interests. The consolidation of food and agriculture industry will ensure successful growth and development, general manager Franc Versic told STA.

The main business of Agrokombinat Maribor is the production of field crops on 1,500 hectares of arable land in long-term lease from the state. It also owns a fodder packaging facility.

The company posted revenues of SIT 1bn (EUR 4.2m) in 2004, according to preliminary data, with profits at SIT 20m (EUR 83,000).

Perutnina Ptuj concluded 2004 with a profit of SIT 350m (EUR 1.4m) on sales of EUR 145.3m.

Source: Slovene Press Agency STA

Author: STA