Agromarket d.o.o., Dragan Nenadovic, Milomir Nenadovic and Zorica Nenadovic completed the acquisition of additional 23.8% of Galenika-Fitofarmacija a.d. for approximately KWD 1.9 billion.

Agromarket d.o.o., Dragan Nenadovic, Milomir Nenadovic and Zorica Nenadovic intend to acquire remaining 33.97% of Galenika-Fitofarmacija a.d. for approximately KWD 2.7 billion on November 13, 2019. On December 9, 2019, Agromarket launched a buyout bid for the additional stake of 33.97% of Galenika-Fitofarmacija a.d. Agromarket d.o.o. aims to acquire 2,640,000 shares in Galenika Fitofarmacija at a price of KWD 3,050. Agromarket d.o.o.Agromarket d.o.o. and other minority shareholders committed to submitting the offer with the Serbian regulatory authorities within 15 working days and launching it as soon as they obtain clearance. Agromarket will be acting in the bid together with local individuals Dragan Nenadovic, Milomir Nenadovic and Zorica Nenadovic, who own a 6.86% combined stake in the capital of Galenika Fitofarmacija. Agromarket directly holds a 66.03% stake in the capital of Galenika Fitofarmacija. The transaction is expected to close on December 30, 2019. Agromarket d.o.o., Dragan Nenadovic, Milomir Nenadovic and Zorica Nenadovic completed the acquisition of additional 23.8% of Galenika-Fitofarmacija a.d. for approximately KWD 1.9 billion on December 31, 2019. Agromarket d.o.o. now holds 89.8% stake in Galenika-Fitofarmacija a.d.