The Agrokor food and retail concern did not act on the order of the Croatian Financial Services Supervisory Agency (HANFA) to publish by 5 December its bid for the takeover of the remaining shares of Belje agribusiness, which are not yet owned by Agrokor, but instead filed constitutional and administrative lawsuits against HANFA, the agency said in a statement on Tuesday.
On 6 October, HANFA ordered Agrokor to submit a request with the agency within the next 60 days for the publication of its bid and other pertaining documentation, stressing that on 12 September 2007, an obligation came into force for Agrokor to make public its bid for the acquisition of Belje.
Agrokor currently owns 5,579,663 shares or a 67.92 % stake in the Belje agribusiness.
HANFA said that Agrokor filed the lawsuits on 3 November, adding that on the same day Agrokor submitted a motion to HANFA to revoke its decision.
HANFA believes its decision was in line with the law, adding that it has not yet received the administrative lawsuit and that it would respond to it in a timely fashion.
