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Croatian Dukat expands stake in Slovenian dairy

Food

Croatia’s dairy Dukat, a part of the French group Lactalis, increased its stake in Slovenia’s largest dairy Ljubljanske mlekarne to 96.52% in the takeover bid that expired on Monday. According to a notification published in Wednesday’s edition of the daily Delo, Dukat acquired 2,025.806 shares or 46.23% of the target company at €8.75 per share, which makes the bid successful. Dukat initially acquired 50.28% of Ljubljanske mlekarne from Lactalis, which bought the share last year from financial firm NFD Holding, banks Factor banka and KD banka, asset manager KD skladi and holding Sava. The value of the deal was not disclosed, but the media reported it amounted to close to €20 million. Ljubljanske mlekarne processes 200 million liters of milk a year and employs a 500-strong workforce at three locations in Slovenia and one in Bosnia-Herzegovina.

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