On the Zagreb Stock Exchange, Podravka’s share price rose over four percent after news that the Fortenova Group selected this Koprivnica company as a strategic partner to negotiate the terms of the sale of Fortenova’s agricultural business.
In the first minutes of trading, Podravka’s share price jumped 4.4 percent to 167 euros, close to its record level.
Trading of Podravka shares was suspended on the Exchange until 11 a.m., after it was announced earlier this morning that the Fortenova Group had chosen Podravka as a strategic partner to negotiate the terms of the purchase of the Agricultural Business Area.
After evaluating the binding offers received during the interest inquiry in the process of selling the companies in the Agricultural Business Area, the Fortenova Group assessed Podravka’s offer as the overall best, Fortenova announced on Friday morning.
Accordingly, an Exclusive Negotiation Agreement was signed between the companies, based on which the Fortenova Group will continue the negotiation process for concluding the purchase agreement only with Podravka.
The Agricultural Business Area of the Fortenova Group includes the companies Belje, PIK Vinkovci, Vupik, Energija Gradec, Belje Agro-Vet, and Felix.
