Member Article

After more than a four months and a Phase II (in-depth) investigation, the Competition Commission gave conditional approval, to Sunoko's acquisition of the Star Šecer company and its subsidiary Te-To - the owner of the sugar factory in Senta. No divestments have been required from Sunoko.

The ruling presents the finale of one of the most complicated merger cases in Serbia thus far and Karanovic & Nikolic is proud to have been advising MK Group throughout the process. The team was led by Mr.Rastko Petakovic, Senior Partner, Mr.Bojan Vuckovic, Partner and Ms.Bojana Miljanovic, Senior Associate.

Brief history

Te-To was founded in 1961 and it was under private ownership since 2002, when the majority of its shares were bought out by S.F.I.R., an Italian company from Cesena. The Senta-based company was one of the three major players on the Serbian sugar market, with a production capacity of more than 150.000 tons, and a line of products under the "Notadolce" brand, including white, brown, crystal and powder sugar.

Sunoko, on the other hand, with its three sugar plants in Vrbas, Pecinci and Kovacica, is the largest local sugar manufacturer and exporter belonging to the renowned MK Group of companies. This leading Serbian and regional sugar refining company has been continuously growing through constant investments in technology, modernisation and expansion of its production facilities, education of human resources and successful management leadership.

 

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