JAMNICA OWNS A 41.18% SHARE OF SARAJEVSKI KISELJAK
Nov 29, 2000
At the international invitation for tenders Jamnica's bid was evaluated as the best. For the package of shares offered, Jamnica and Agrokor paid DM 3.5 million. For the package of shares offered, Jamnica and Agrokor paid DM 3.5 million, with the obligation to invest further DM 15.5 million into technology and new equipement and open 67 new jobs. After signing the Sales Contract with the Agency, pursuant to the legal provisions of Bosnia and Herzegovina, Sarajevski Kiseljak will on December 1, 2000 hold a Shareholders' Meeting to pass a decision on accepting the privatization deal and appoint a new Supervisory Board. The current market share of Sarajevski Kiseljak in Bosnia and Herzegovina amounts to 48%, and should by using the synergies of Jamnica and Agrokor, be increased to about 75% within very short time. In marketing terms, a redesign of the existing Kiseljak logo and the product labels is planned. Furthermore a completely new distribution and sales system is to be introduced by opening distribution centers with own distribution in Bosnia and Herzegovina, and a unique pricing system will be applied throughout the Bosnian and Herzegovinian market.