Podgorica-based Kerber Group has raised its ownership in Berane-based industrial manufacturer Poliex to 90.05%, consolidating control following a takeover offer that preceded the resumption of trading in the company’s shares. Poliex shares returned to the market, after a suspension lasting almost seven weeks in connection with the takeover process.
Kerber offered minority shareholders €3.34 per share in cash. Settlement records show that 28,041 shares changed ownership, representing a transaction value of approximately €93,657 at the offer price. The resulting 90.05% stake gives Kerber overwhelming control of Poliex, leaving a relatively small proportion of shares in minority ownership and available for trading.
Poliex Reports Strong Profit Growth
The ownership change comes after a significant improvement in Poliex’s financial results. The company recorded net profit of approximately €15.3 million in 2025, compared with €4.3 million in the previous year. Annual revenue reached approximately €30.2 million, meaning that reported net profit represented a particularly high proportion of turnover.
Ownership Concentration and Minority Shareholders
Kerber’s acquisition of more than 90% of Poliex places the company under a highly concentrated ownership structure. Crossing this threshold may also have implications for potential future corporate restructuring, subject to applicable capital-market and company-law provisions.
Following the completion of the offer and the return of shares to trading, attention will turn to Kerber’s plans for the company’s ownership structure and future operations. Key issues include whether Poliex will remain listed, whether the controlling shareholder intends to pursue further ownership consolidation, and how future decisions on dividend distribution and reinvestment will affect minority shareholders.
Industrial Investment and Future Capital Allocation
Poliex is a relatively uncommon example of a profitable industrial manufacturer in Montenegro, where economic activity is heavily concentrated in trade, tourism, construction and services.
The company’s future capital allocation decisions could influence its industrial investment strategy, dividend policy and treatment of minority investors. Its recent earnings performance makes the balance between distributing profits and reinvesting in the business particularly relevant to its longer-term development.
