BELGRADE (Serbia), November 14 (SeeNews) – Norway’s Rapp Marine said on Monday it is launching a buyout bid for the 5.03% of its Serbian subsidiary, Rapp Zastava, it does not own.
Rapp Marine offers 138 dinars ($1.9/1.3 euro) per each of the 19,199 outstanding Rapp Zastava shares, it said in a filing to Serbia’s Central Securities Depository and Clearing House.
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The bid is open between November 14 and December 5.
Rapp Marine develops advanced machinery and equipment for the marine and offshore oil industries. Serbian machine builder Rapp Zastava became part of the group in October 2006.
(1 euro=102.358 Serbian dinars)