Main Slovenian food producer sold with P&S CAPITAL’s assistance

The financial advisory and consulting firm P&S CAPITAL is a leading provider of valuation and financial advisory services in Slovenia. As such it has been selected for the role of the financial and strategic advisor for Žito d.d. together with Erste Group Bank from Austria.

At the start of 2015 the consortium of Žito’s shareholders received several binding offers for the acquisition of the largest bread and foods producer in Slovenia Žito d.d. The company was put on the government’s list of companies to be sold in the latest privatization process back in 2013. The leading role in the sale process was held by SDH (Slovenian Sovereign Holding), which negotiated the final sale of 183,386 or 51.5% of Žito’s shares to the largest Croatian food manufacturer Podravka d.d. Total transaction value has been 33 million EUR, that is 180.1 EUR per share (in comparison the average stock market price on the Ljubljana stock exchange in the period from January till November 2015 was around 169 EUR). The acquisition contract between Podravka d.d. and the consortium of owners has been signed in April 2015 and the sale was finalized in October 2015, after all necessary regulatory approvals from the state competition authority have been issued. Podravka d.d. additionally announced at the end of October 2015 to publish an offer for the purchase of the remaining Žito’s shares. At the end of November 2015 Podravka d.d. succeeded to acquire additionally 35.25% of Žito’s shares for 22.6 million EUR. Consequently Podravka d.d. now holds 86.8% of Žito’s shares.

News articles on the internet: The signing of the acquisition contract for Žito d.d. and P&S CAPITAL and Erste Group Bank selected as financial and strategic advisors http://www.sdh.si/en-us/Novica/796 and http://www.zito.si/en/2015/04/signed-agreement-with-podravka-and-consortium-of-sellers-of-the-company-zito-d-d/