The Agrokor Group, owned by Ivica Todorić, is offering 1,379 kuna per share for Mlinar, a leader in the milling and bakery products market, and 858 kuna per share for the associated company Žitnjak in its public takeover bid for Mlinar shares.
The long-awaited offer does not differ much from the figures that unofficially circulated in public ahead of the official offer, which were around 1,360 kuna for Mlinar shares and slightly above 850 kuna for Žitnjak shares. On July 4, 2008, Agrokor reported to the Zagreb Stock Exchange that it had increased its stake in Mlinar, which had been just above three percent for years. Through an agreement with several individual owners for the transfer of shares, Agrokor acquired 114,707 shares by July 1, securing Ivica Todorić a ownership package that includes 50.2 percent of Mlinar’s equity. Agrokor then acquired 51.92 percent of the equity in Žitnjak through Mlinar, which operates a retail and wholesale network of about 30 outlets primarily selling food and beverages, consumer goods, flowers, and gifts. (M. B.)
