Sojaprotein announced yesterday that the Victoria Group, the company’s largest shareholder, acquired an additional 1.3% of Sojaprotein’s shares at RSD 180 per share through their latest takeover bid.

In a statement released yesterday on the Belgrade stock exchange Sojaprotein announced the end of the latest takeover bid made by the Victoria Group for the remaining 10.9% stake in the company. As a result of the takeover bid, the Victoria Group was able to acquire a total of 177,931 shares representing a 1.29% share in the company, thus lifting their stake in the company to 90.4%. Note that this wasn’t the first attempt made by the Victoria Group to acquire all of Sojaprotein’s shares. At the beginning of March Victoria Group issued a takeover bid for the remaining shares of Sojaprotein, however they were only able to acquire 2.6% of the company’s share. Afterwards the Group went on to purchase an additional 18% Sojaprotein’s shares on the open market at RSD 180 per share.

As a reminder, Sojaprotein is the largest soybean processing factory in Serbia. Last year, MK Group took over Victoria, after buying out its debts from the banks. After this event, the obligation to announce a takeover bid for its subsidiaries Veterinarski Zavod and Sojaprotein occurred.