Serbia's Metalac plans to squeeze out minorities at Metalac-Proleter

A proposal for the squeeze-out will be put to the vote at an extraordinary shareholders meeting scheduled for February 16, Metalac-Proleter said in a Belgrade bourse filing on Friday.

Metalac holds some 92% of Metalac-Proleter, while the company itself has a 6.9% stake, and the remainder belongs to smaller shareholders, data from Serbia's central securities registry showed on February 5.

In December, Metalac raised its stake in the subsidiary to its current holdings, from some 65%, following a buyout bid in which it acquired 45,596 shares at 5,109 dinars ($47/44 euro) each.

Metalac-Proleter has 128,632 listed shares of 600 dinars in par value each. They have not traded on the Belgrade bourse in the past year.

Metalac's shares last traded on Thursday, closing flat at 1,550 dinars.

(1 euro = 117.180 dinars)