Duropack to acquire Belisce

Vienna-based packaging company Duropack is reportedly planning to take over Croatian paper and plastic products manufacturer Belisce.The Zagreb stock exchange announced yesterday (Thurs) that Duropack would make an offer for all Belisce’s shares it does not already own. The Austrian firm has 26.7 per cent of them.Duropack purchased 20 per cent of Belisce’s shares two years ago. At that time, the Austrian company paid 127 Euros a share, whereas today a share costs 74 Euros.Croatian Times reports Duropack will become the leading manufacturer of paper in south-eastern Europe if it takes over Belisce.