February 8 (SeeNews) - Greek aluminium products manufacturer Aluminco intends to squeeze out the minorities at its Serbian unit, Aluminco Sar, the latter said.
The proposal will be put to the vote at an extraordinary shareholders' meeting to be held on February 26, Aluminco Sar said in a filing to Serbia's central securities depository and clearing house earlier this week.
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Aluminco controls 90.1% of its Serbian unit, while the remaining 9.9% stake belongs to local individual Milorad Paunovic.
Aluminco Sar was established in Belgrade in 2001. It is active in the production and trade of aluminium products.