The Slovenia Times

Žito Attracts Several Binding Bids


The deadline for binding bids for the acquisition of a 51.55% stake in what is one of Slovenia's biggest food companies expired on 30 January. Except from saying it had received several binding bids, SSH would not reveal any further details.

However, media have reported that binding bids had been submitted by Croatian food company Podravka, the Metlika-based banking company Don Don and French fund Ardian, which already owns French frozen pastry maker Europeenne des Desserts and Polish confectionery maker Delic-Pol.

Interest in the privatisation process launched in September 2014 had also been expressed at least by Croatia's leading coffee roasting company Franck, the Czech Agrofert Group and two more equity funds, but it is not clear whether these placed binding bids.

Reports in the dailies Dnevnik and Finance say the outcome of the Žito sale will largely depend on grocer Mercator and its new owner Agrokor; Žito generates a large portion of its sales through Mercator so a new owner would likely want to get some guarantees as per the terms of further cooperation.

Žito is also vying to buy Pekarna Grosuplje, the bakery that is being sold by Mercator. The deadline for the submission of binding binds is to run out in the second half of this month. Other bidders are Don Don and Croatian baking companies Čakovečki Mlinovi and Zagrebačke pekarne Klara.


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