Pandam-NS makes takeover bid for Minaqua

After a large transaction involving Minaqua shares was completed on Friday, in which 4.6 percent of shares in that company changed the owner, the majority owner of Minaqua made a takeover bid for that company today.

Novi Sad-based Pandam-NS, which, together with associated persons, holds 89.6-percent stake in Minaqua, intends to purchase the remaining 10.4 percent of shares from minority shareholders.

Minaqua is the second largest water bottling plant in the country, with its market share exceeding 20 percent.

The company from Novi Sad registered business revenues of RSD 840.9 million in H1 2012, whereas its net profit in the same period amounted to RSD 93.8 million.

With the latest share price of RSD 5,900, Minaqua's market cap is at RSD 857 million (EUR 7.7 million).