Lajanski: We Already Abandoned Plans For Two Acquisitions

Lajanski: We Already Abandoned Plans For Two Acquisitions

Devin Jsc has abandoned two plans for acquisition of other companies, CEO Cvetan Lajanski said at a press conference today. He said the reason was the high price tags.

“I expect all small companies on our segment to disappear,” he added.

Mr. Lajasnki said his company is currently negotiating with six enterprises – two Macedonian, two Bulgarian, one from Greece and one from Serbia.

In the case of smaller companies, Lajanski said the takeovers will be supported by a debt issue and if the company was larger than Devin, the company may decide to increase capital, issue debt or co-operate with an investment fund and later acquire its stake.

According to Canadean, at the end of 2007 Devin held 33% of the Bulgarian market of bottled water but the company itself states their market share stood at 32%.

The unaudited consolidated report shows 2007 sales amounted to 54.253 mln leva (27.739 mln euros) and pre-tax profit was at 1.448 mln leva (approx. 740,350 euros). Devin expects sales to reach 64.217 mln leva (32.833 mln euros) next year and profit to come to 2.119 mln leva (1.083 mln euros).

1,030 shares changed hands on BSE today at prices between 6.30 and 6.36 leva.

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