Even bigger: acquires the partnership in Serbia for NIS 100 million – the capital market

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Big
+ 1.07%




Big
36,030
+1.07%



Big


Base:35,650

opening:36,100

High:36,360

low:35,940

change:15,547,086

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Continues to be based in Serbia. The company today reports the acquisition of its local partner’s share (13%) for 24.3 million euros, which is about 97 million euros. The company will pay the partner NIS 350 per share, which means that he will enter as an investor in the Big Company at a discount of about 2%.

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According to the report, it acquires the share of the partner in the subsidiary CEE BIG BV, in which it holds about 82%, as well as the owner loan it gave. Following the acquisition, the company will hold 95% of the subsidiary’s shares. Big expects an increase of about 3.25 million euros in its NOI (NIS 13 million) as a result of the acquisition.

Chai Gallis, CEO of Big: “We see Serbia as a significant growth engine and the deal that increases our holdings in the Serbian company is a direct continuation of the expansion strategy in Serbia. The deal increases our holding in a quality asset portfolio and produces an attractive return on investment and growth in the company’s operations and operational parameters. Acts and locates additional business opportunities. ”

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