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Serbia : Green Light for Al Dahra to Buy Pkb, Daughter Companies

Dec 05, 2018 (Euclid Infotech Ltd via COMTEX) --

The Serbian Competition Commission has approved the purchase of the Belgrade Agricultural Corporation, PKB, and three daughter companies -- Eko Lab, PKB Agroekonomik and PKB Veterinary Station, to Al Dahra of the United Arab Emirates.

The commission believes that the takeover will not threaten competition on the Serbian market in dairy, wheat, seed and apple production, in animal husbandry, laboratory testing and veterinary care, as Al Dahra only produces and sells apples in Serbia. Al Dahra, registered in Irig, bought the real property of PKB and its daughter companies for a little over EUR105 million early in October.

The value of the livestock of PKB, estimated at around EUR17 million, will be added to the base price. Al Dahra announced an investment of EUR30 million in advancing the business of PKB, further development of the irrigation system and modernization of the dairy production capacity over the next three years. Al Dahra also plans to invest EUR15 million in optimizing PKB business and its capacity to produce higher yields and better-quality milk. Al Dahra has been operating in Serbia since 2014, when it bought 51 percent in Rudnap Agrar.

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