Macedonian Securities and Exchange Commission (SEC) has given the green light to fuel storage and transport company Oilko KDA to proceed with its planned takeover of local fuel retailer Makpetrol.
According to the SEC notice, Oilko KDA will extend a takeover offer at 67,001 denars (1,087 euro) per share to acquire the 72,644 shares it does not currently own in Makpetrol. This offer targets a substantial 64.64% stake in Makpetrol, which would consolidate Oilko KDA’s position in the market.
Currently holding a 22.87% stake in Makpetrol, Oilko KDA aims to strengthen its presence and influence within the energy industry through this strategic acquisition. The offer price represents a premium over the recent trading average, indicating Oilko’s confidence in the potential synergies and value that could be unlocked through the merger.
Makpetrol, a prominent player in the local fuel retail sector, has seen its shares trade at an average price of 65,500 denars on the Macedonian Stock Exchange (MSE) as of Monday. This suggests that Oilko’s offer presents an attractive opportunity for Makpetrol shareholders to realize a favourable return on their investment.
