Shareholders of Imlek and Bambi to get money in 70 days latest?

(Photo: Imlek.rs)

Shareholders of Imlek, Bambi, Knjaz Milos, within Danube Foods Group, whose shares were sold to London investment fund, Mid Europa Partners for EUR 575 m, in line with legal procedure, can expect payment in 70 days latest.

In line with the Law on shareholder companies’ takeover, during today, announcements have been published on intention of takeover of two companies which are listed at the Belgrade Stock Market and these are Belgrade-based Imlek and Pozarevac-based Bambi, broker company Prudence Capital said for Tanjug.

London investment fund, in line with the law, is obliged to submit in 15 days to the Commission for securities, a request for approval to publish offer for takeover and the Commission after that has a deadline seven to 10 days most to make decision on approval of publishing offer for takeover.

Bidder, in case of positive decision, will be obliged to immediately send to all shareholders in written the text of the offer with defined price and deadline which cannot be shorter than 21 days and not longer than 45 days as of the offer publication in Prudence.

As they add, shareholders have the right to give order within that timeline for transferring of their shares with their brokers and the funds will be on the accounts the third day after the offer expires latest.