May 31 (SeeNews) - An unnamed German firm is in talks with Bosnian businessman Mladen Milanovic Kaja for the purchase of his majority stake in local urban waste collection and disposal company Cistoca, Bosnian media reported.
In particular, the German company aims to acquire the controlling stake in Cistoca held by Kaja-owned operator of outdoor markets Trznica Banja Luka, news outlet Capital.ba quoted the businessman as saying on Thursday.
You can subscribe to our M&A newsletter here
Kaja said the interested buyer is one of the largest companies in Germany, also active in communal waste collection, but declined to give its name. He added that a meeting with representatives of the company was held earlier this week and their offer is now under consideration.
Trznica controls 51% of Cistoca, followed by Banja Luka city with 30%. The remainder is owned by smaller shareholders.
Earlier this month, Cistoca reported a 38.1% year-on-year drop in its 2018 net profit, to 407,388 marka ($233,123/208,294 euro).
(1 euro = 1.95583 marka)