March 21 (SeeNews) - Bulgarian construction company Trace Group Hold [BUL:T57] said on Thursday that it will merge two of its wholly-owned Serbian subsidiaries - Trace Serbia and Vior Velika Morava.
Trace Serbia will absorb Vior Velika Morava, increasing its capital to 985.3 million dinars ($9.5 million/8.4 million euro), Trace Group Hold said in a bourse filing.
Trace Group Hold owns a 100% stake in Trace Serbia directly, and controls 100% of Vior Velika Morava through another wholly-owned unit - Trace International.
Trace Group Hold's activities include rehabilitation, reconstruction and construction of roads, highways, airports, underground stations and underground railways, ground railroads and facilities, urban infrastructure and road marking.
(1 euro = 117.986 dinars)