The bid translates into P/E of 12.9 and EV/EBITDA of 7.9, while the offered price is 4.8% above the market price (closing price on Friday).

Galenika Fitofarmacija published a document on the Belgrade Stock Exchange announcing that their majority shareholder, Agromarket announced a takeover bid to the minority shareholders. The mentioned bid amounts to RSD 3,050 per share, which is the same amount that Agromarket paid when acquiring additional 34% of the shares last month.

Such a bid translates into P/E of 12.9 and EV/EBITDA of 7.9, while the offered price is 4.8% above the market price (closing price on Friday).

Note that Agromarket holds 66% of the total shares of Fitofarmacija and that the mentioned offer is open until 30 December 2019.