Bosnia's Pavgord seeks to take over Boksit

Pavgord is also buying the 36.72% stake in Boksit owned by its largest shareholder, Mileks, Dukic said in a statement on Wednesday.

Consequently, Dukic will resign from his position as president of Boksit, he further said.

Pavgord is the owner of local aluminum supplier Alumina, which accounts for over 60% of Boksit's income, according to the statement.

Boksit's shares last traded on the Banja Luka Stock Exchange (BLSE) on Wednesday, when they closed flat at 0.48 marka ($0.27/0.25 euro).

(1 euro = 1.956 marka)