Commission confirms Beko is majority Novosti owner

Serbia's Securities Commission on Tuesday confirmed that three companies owned by Milan Beko were the majority owner of the Novosti company.

Izvor: B92

Tuesday, 05.07.2011.

17:56

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Serbia's Securities Commission on Tuesday confirmed that three companies owned by Milan Beko were the majority owner of the Novosti company. Beko previously made a similar statement in his interview for B92, explaining that the commission sent him a document confirming this on June 23. Commission confirms Beko is majority Novosti owner The commission specified that Beko's three firms together owned 62.42 percent of the Novosti stock. Beko also said that the commission was requesting for the three companies to provide a level playing field and protect the rights of minority shareholders by offering to take over the remaining shares in the Novosti company. According to this, the commission also offered an alternative: for Beko's companies to sell their shares which would in total exceed 25 percent of ownership. Novosti's minority owners include the Republic of Serbia with 29.51 percent, the state-run pension fund PIO with 7.15 percent, and small individual shareholders. The commission issued a temporary measure limiting management rights of Beko's three companies to 25 percent of management votes, and the restriction will remain valid until the shares have been offered for sale, or a takeover bid has been announced by Beko. Beko for his part stated that he will make his decision on his next move after consultations with Germany's WAZ media group, "about whose stake in this business the Securities Commission acquired appropriate information". Austria's Ost Holding, which is owned by WAZ, requested in January of this year a permission from the Serbian Competition Commission to take over 62.4 percent of Novosti's shares - now owned by Beko. Belgrade-based media reported at the time that Beko "had a deal to sell his shares to WAZ". The Competition Commission announced that their decision on the takeover bid will be known in mid-July. Ost Holding started buying Novosti shares last year, when they acquired 100 percent of Austria's Ardos company. Milan Beko (Tanjug, file)

Commission confirms Beko is majority Novosti owner

The commission specified that Beko's three firms together owned 62.42 percent of the Novosti stock.

Beko also said that the commission was requesting for the three companies to provide a level playing field and protect the rights of minority shareholders by offering to take over the remaining shares in the Novosti company.

According to this, the commission also offered an alternative: for Beko's companies to sell their shares which would in total exceed 25 percent of ownership.

Novosti's minority owners include the Republic of Serbia with 29.51 percent, the state-run pension fund PIO with 7.15 percent, and small individual shareholders.

The commission issued a temporary measure limiting management rights of Beko's three companies to 25 percent of management votes, and the restriction will remain valid until the shares have been offered for sale, or a takeover bid has been announced by Beko.

Beko for his part stated that he will make his decision on his next move after consultations with Germany's WAZ media group, "about whose stake in this business the Securities Commission acquired appropriate information".

Austria's Ost Holding, which is owned by WAZ, requested in January of this year a permission from the Serbian Competition Commission to take over 62.4 percent of Novosti's shares - now owned by Beko.

Belgrade-based media reported at the time that Beko "had a deal to sell his shares to WAZ".

The Competition Commission announced that their decision on the takeover bid will be known in mid-July.

Ost Holding started buying Novosti shares last year, when they acquired 100 percent of Austria's Ardos company.

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