BELGRADE (Serbia), May 29 (SeeNews) - Serbian blue-chip civil engineering group Energoprojekt [BEL:ENHL] plans to launch a buyout bid for the 13.69% stake it does not already own in its subsidiary Energoprojekt Entel [BEL:EPEN].
Energoprojekt aims to purchase a total of 57,839 Energoprojekt Entel shares, the company said in a filing with the Belgrade Stock Exchange earlier this week without disclosing its potential price offer.
In April 2018, Energoprojekt also announced intentions to launch a buyout bid for Energoprojekt Entel but did not make an offer.
Napred Razvoj, owned by the incumbent president of Energoprojekt, Dobroslav Bojovic, took control of 52.1% of Energoprojekt's share capital after acquiring a 16% stake in the company for some 22 million euro in June 2017.
Energoprojekt Entel's shares last traded on May 23, when they closed flat at 14,084 dinars ($133.3/119.4 euro), according to data from the Belgrade Stock Exchange.
(1 euro = 117.980 dinars)