Steel producer Slovenska Industrija Jekla (SIJ) of Slovenia has acquired a further 26.09 percent of Perutnina Ptuj, reports See News. The announcement follows the completion of a tender offer launched in December 2015, and SIJ now holds a combined 8,449,917 shares or 77.43 percent of the company.

In December, SIJ announced it intends to launch a takeover bid for the remaining shares of Perutnina Ptuj after recapitalizing the company with EUR40 million (US$44 million).

SIJ is 72.2 percent-owned by Dutch-registered Dilon Cooperatief, and Slovenian state has a 25 percent stake.

A recent report from Slovenian Press Agency, STA, states that Perutnina Ptuj is the country’s biggest poultry producer. Its new boss, Tibor Simonka, is reported to be looking to expand the business to Russia and thus reestablish connections with its easterly neighbor.

According to the Perutnina Ptuj website, the company has vertical broiler chicken and turkey integrations in four countries – Slovenia, Croatia, Bosnia & Herzegovina and Serbia – and it operates in 22 countries in total. It has 3,500 employees and co-workers in 8 countries and in addition to its poultry business, the company farms 4,000 hectares of arable land in Slovenia and produces its own feeds.