Serbia's Geo-Projekt launches buyout bid for Tehnohemija

Geo-Projekt SM is offering to pay 2,487 dinars ($23/21 euro) per each of the 2,779 Tehnohemija shares held by minority shareholders, the company said in a filing to the Belgrade bourse on Monday.

The takeover bid is open between May 28 and June 17, it added.

Tehnohemija's total equity is divided into 34,110 shares of 1,000 dinars in nominal value each. They did not trade on the Belgrade bourse in the past year.

Both companies are located in the city of Sremska Mitrovica, in the northern province of Vojvodina.

(1 euro = 117.125 dinars)