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Serbia's Energoprojekt raises stake in Entel to 96.3%

Author Radomir Ralev
Serbia's Energoprojekt raises stake in Entel to 96.3% Source: Energoprojekt Holding

BELGRADE (Serbia), July 19 (SeeNews) - Serbian blue-chip civil engineering group Energoprojekt [BEL:ENHL] has raised its stake in the capital of Energoprojekt Entel [BEL:EPEN] to 96.34% from 86.31% following a buyout bid, it said.

Energoprojekt purchased 42,355 Energoprojekt Entel shares at a price of 13,461 dinars apiece in the buyout bid, the company said in a filing with the Belgrade Stock Exchange on Thursday. 

After the completion of the buyout bid, which expired on July 15, Energoprojekt holds 407,011 Energoprojekt Entel shares.

In August 2017, Napred Razvoj said it successfully took control of 52.1% of Energoprojekt's share capital after acquiring a 16% stake in the company for some 22 million euro ($25 million).

Energoprojekt Entel's shares last traded on July 15, when they lost 3.8% and closed at 13,465 dinars ($133.3/119.4 euro), according to data from the Belgrade Stock Exchange.

(1 euro = 117.980 dinars)