It was announced yesterday on the Belgrade stock exchange that majority owner of Sojaprotein has increased its shareholding in the company to 12.3 m shares which amounts to 89.09% of shareholding. Victoria Group also announced an intention to publish take over bid for the remaining shares on the Belgrade stock exchange.

Victoria Group has purchased additional 18% of shares of Sojaprotein on the open market on 28 June at RSD 180 per share. Sojaprotein was the most traded share with 3.2 m shares traded and the losing price was also RSD 180. Consequently, Victoria Group also announced an intention to publish take over bid for the remaining shares on the Belgrade stock exchange yesterday. The remaining shares amount to 1.5 m or 10.91% of the total shareholding.

As a reminder, Sojaprotein has at the beginning of March issued a takeover bid for the remaining shares of Sojaprotein that you can read about here. In this takeover bid, Victoria Group was able to purchase only 2.6% of shares. In that event takeover bid was announced at the RSD 180 per share.

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.