You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Serbian firm to launch buyout bid for Hidrotehnika-Hidroenergetika

Author Radomir Ralev
Serbian firm to launch buyout bid for Hidrotehnika-Hidroenergetika Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

BELGRADE (Serbia), July 12 (SeeNews) - Serbian company Aqua Mont Service plans to launch a buyout bid for the 29.93% stake it does not own yet in energy and hydropower facilities builder Hidrotehnika-Hidroenergetika [BEL:HDRT], it said.

Aqua Mont Service, owned by Serbian citizen Aleksandar Milosavljevic, intends to launch a bid for 44,137 shares in Hidrotehnika-Hidroenergetika, the company said in a filing with the Belgrade Stock Exchange on Thursday.

In January, Aqua Mont Service purchased a 70.1% stake in the capital of Hidrotehnika-Hidroenergetika from the Serbian government for 977,000 euro ($1.1 million).

Hidrotehnika-Hidroenergetika is currently implementing projects in Serbia, Tunisia and Algeria.

No deals with Hidrotehnika-Hidroenergetika were carried out on the Belgrade Stock Exchange in the last three years.

($ = 0.88829 euro)