MK Group a Serbian holding company with the headquarters in Belgrade with more than 30 companies within its holding and performs a variety of services, such as agribusiness, wholesale, real estate, and banking, has completed the purchase of 67% of shares in Victoria Group JSC one of the largest exporters in Serbia and at the very top in agri-food sector exporting products to more than 50 countries on 5 continents with 80% of the export for European Union. The sellers Mr. Milija Babovic and Cypriot based Apsara have remained as shareholders in Victoria Group with 16,5% of shares each.
With this takeover of Victoria Group, MK Group owner Miodrag Kostić has rounded off his operations in the agriculture sector and isn’t planning any further expansion in this domain. The only branch in which he will continue to expand is tourism.
MK Group Financial director Andrija Vukovic said that the rich experience, stability of the business, and the company’s strategic guidance towards the implementation of the latest agricultural trends would contribute to further strengthening and growth of the Victoria Group. He pointed out that he is satisfied that a company with soybean and sunflower products exported to more than 60 countries has become part of a successful company such as the MK group, which is the regional leader in agribusiness, banking, and tourism.
“I am proud of the management of MK Group and the energy they have invested in a complicated process of acquisitions. We are aware of the relevance of the MK group’s capacities and experience and the Victoria Group, and we are looking forward to future business ventures, “Vukovic said. He added that Serbian farmers would still have a reliable partner in the MK group, “ready to invest knowledge and resources, to ensure the placement of domestic products on world markets”.
Victoria Group executive director Stefan Babovic said that the company’s integration into the IC group can only bring to benefit both employees and the agro-sector in Serbia, but also beyond.
“We continue our cooperation with our partners and co-operators. I am very glad that the acquisition process is over and that in the next period we will be able to concentrate on the further development of business performance, with great assistance from the regional leader, as is the MK group, “Babovic said.
JPM lead by Senior Partner Mr. Nenad Popovic and Senior Associate Ms. Bojana Javoric have acted as a legal advisor for both sellers Mr. Milija Babovic and Apsara during this complex and exciting transaction.