Serbian businessman Nebojsa Saranovic, the owner of Kappa Star, currently owns 25.37% of Kras, which means that he has passed the threshold allowing him to make a voluntary offer for the takeover of their shares.
Last week, this second biggest stakeholder informed the Zagreb Stock Exchange that he owned 25.01% of the Coratian confectionery brand, because he was obliged by law to do so. However, he continued buying shares this week, which were worth around HRK 1,050 (EUR 140.9) yesterday. That brings him even closer to the share of 30.73% held by Mesna Industrija Braca Pivac.
As Politika writes, Saranovic does not yet want to make a voluntary offer for the takeover, as his interest is to acquire a larger stake.
Nenad Grujicic, a broker at Momentum Securities, explains that, under the Croatian law, Kappa Star can buy shares without being obliged to make an offer until it reaches the stake identical to the largest stakeholder.