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N. Macedonia's Cementarnica Usje to absorb Opalit's owner

N. Macedonia's Cementarnica Usje to absorb Opalit's owner Photo: Cementarnica Usje / All rights reserved.

SKOPJE (N. Macedonia), April 21 (SeeNews) - North Macedonia's building materials producer Cementarnica Usje [MSE:USJE] said it will absorb ID Company, the owner of Opalit mining company.

The merger is intended the operating efficiency of Cementarnica Usje, the building materials producer said in a bourse filing on Wednesday.

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Cementarnica Usje added it will absorb ID Company without changing its own share capital. After the transaction, Opalit's share capital will become an asset of Cementarnica Usje.

Cementarnica Usje acquired ID Company for 21 million denars ($370,000/338,500 euro) in November 2020, according to an earlier statement by the parent company. ID Company owns 100% of Opalit.

Cementarnica Usje's shares last traded on the Macedonian Stock Exchange (MSE) on April 18, at an average price of 41,050 denars, bourse data showed.

(1 euro = 62.01 denars)

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