London-registered Balkan Petroleum Holding is seeking the Macedonian Securities Commission’s approval for its plans to place a takeover bid for the country's biggest fuel retailer Makpetrol.
MAKPETROL AD is the largest private company for distribution and sale of oil products in Macedonia. As a leader at the Macedonian market almost 70 years it developed a network of 124 ultra-modern petrol stations of oil products with sufficient capacity.
Little is known about Balkan Petroleum Holding, which according to the UK Companies’ House registry was only incorporated on May 29 - less than two weeks after it announced its intention to take over Makpetrol. The holding company offered a price of MKD25,908 (€421) per share for Makpetrol on June 9, the Macedonian Stock Exchange said at the time. However, the process of announcing the takeover bid was prolonged as its documents were incomplete.
The company’s official representative in Macedonia, Petar Stojanovski, sent a request to the Securities Commission on July 4, daily Kapital reported. “The takeover bid, takeover prospectus, and other documents in accordance with the law, which will serve for data verification in the process have also been sent," Kapital cited the statement distributed by Stojanovski.
The commission is required to decide on the request within 10 days of the date of obtaining the documents.
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