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Privatisation Agency, Soko Nada Stark company sign cooperation agreement
Belgrade,
14 July 2004
Serbian Privatisation Agency Director Branko Pavlovic and shareholders of confectionery producer Soko Nada Stark signed today an agreement on business cooperation, with the aim to merge the state’s 40 percent stake and as many shares of small shareholders as possible, creating an attractive majority stake to be sold at a tender later this year.
The Privatisation Agency will invite other small shareholders of Soko Nada Stark to join the initiative, and Pavlovic expects that a majority stake to be put up for sale in October or November will reach between 80 and 90 percent.
Pavlovic said that this will have multiple positive effects for the company and the shareholders, including a higher per share price, a better strategic partner, and more investment in the company’s development and state-of-the-art technologies.
He added that large foreign companies such as Nestle and Kraft have already shown interest in the acquisition of Soko Nada Stark.
According to Pavlovic, through this method, small shareholders will also become active participants in the privatisation of the company, with the right to take part in picking a strategic partner.
He added that this method of privatisation will also prevent any abuse or deals evading the official procedure. The best bidder, with the best price and plans for the company’s development, will be declared the winner in the tender, he said.
Pavlovic also said that Soko Nada Stark has around 3,500 small shareholders, of whom one-third are pensioners.
Pavlovic said that this will have multiple positive effects for the company and the shareholders, including a higher per share price, a better strategic partner, and more investment in the company’s development and state-of-the-art technologies.
He added that large foreign companies such as Nestle and Kraft have already shown interest in the acquisition of Soko Nada Stark.
According to Pavlovic, through this method, small shareholders will also become active participants in the privatisation of the company, with the right to take part in picking a strategic partner.
He added that this method of privatisation will also prevent any abuse or deals evading the official procedure. The best bidder, with the best price and plans for the company’s development, will be declared the winner in the tender, he said.
Pavlovic also said that Soko Nada Stark has around 3,500 small shareholders, of whom one-third are pensioners.
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