February 4 (SeeNews) - Cyprus-based company East Point Metals has launched a buyout bid for the 19.13% stake it does not already control Serbian copper mill Valjaonica Bakra [BEL:VBSE], it said.
East Point Metals aims to acquire 123,058 shares in Valjaonica Bakra at a price of 2,700 dinars ($25.4/23 euro) apiece, the company said in a filing with the Belgrade Stock Exchange on Monday.
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The offer is valid February 4-24.
East Point Metals currently owns an 80.87% stake in Valjaonica Bakra, it said.
Valjaonica Bakra won 7.83% on the stock exchange on Monday and closed at 3,127 dinars.
(1 euro = 117.590 dinars)