Delhaize to announce takeover bid for Pekabeta's remaining shares soon

Belgium-based Delhaize Group will soon announce a takeover bid for remaining 4.4% of shares in Pekabeta market chain that are in the possession of minor shareholders, Danas daily writes.

Last week Delhaize increased its stake in Pekabeta to over 95%, buying the shares at the price of RSD 8,500 a piece. Delhaize is expected to offer to buy the remaining shares at that same price.

According to the Law on Takeover of Joint Stock Companies, after the closing of this takeover bid, Delhaize will be able to squeeze out the rest of outstanding shares in Pekabeta.

With the price of RSD 8,500 per share, Pekabeta's market capitalization amounts to RSD 3.85 billion (EUR 37.3 million). This market chain reported sales revenue of RSD 4.4 billion in 2010.