SOFIA (Bulgaria), October 6 (SeeNews) – Serbian construction company Preduzece za Puteve - Nis (PZP Nis) changed its name to Trace PZP Nis after it was recently acquired by its Bulgarian peer Trace Group Hold [BUL:T57], the Sofia-based company said on Monday.
The change was entered into the Serbian commercial register on September 29, Trace Group Hold said in a bourse filing.
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In August, Trace Group Hold said it signed a 588.5 million dinars deal on the acquisition of PZP Nis, which is undergoing bankruptcy proceedings. At the time Trace Group Hold said the Serbian company is expected to turn into a strategic asset.
The capital of the Serbian company, which totals 591.5 million Serbian dinars ($6.2 million/5.0 million euro), consists of 591,527 shares of 1,000 dinars each, Trace Group Hold said in the bourse filing.
Trace Group has been active on the Serbian market for five years. In 2008 it acquired a majority stake in engineering company Vior Velika Morava. Last year it set up two subsidiaries - road construction company Trace Balkans and New Bridges, which is specialised in bridge construction. Trace Group is currently implementing road works worth 95 million euro in total in Serbia.
(1 euro=119.255 dinars)