You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Serbia's Tiv Produkt launches buyout bid for Nikola Tesla EI

Author Radomir Ralev
Serbia's Tiv Produkt launches buyout bid for Nikola Tesla EI Author: espensorvik. License: Creative Commons, Attribution 2.0 Generic.

BELGRADE (Serbia), April 8 (SeeNews) - Serbian company Tiv Produkt has launched a buyout bid for the 42.89% stake it does not already control in TV equipment maker Nikola Tesla Elektronska industrija [BEL:NKTS].

Tiv Produkt has offered to pay 1,250 dinars ($11.9/10.6 euro) per share to acquire the 33,021 shares it does not own in Nikola Tesla, Tiv Produkt said in a filing with the Belgrade Stock Exchange on Friday.

The deadline for acceptance of the buyout bid is April 30, Tiv Produkt said.

Tiv Produkt increased its stake in Nikola Tesla to 57.1% from 2.8% in a block deal carried out on January 5, 2018. Back then, Tiv Produkt announced intentions to launch a buyout bid for Nikola Tesla Elektronska industrija.

Currently, Tiv Produkt currently owns 43,981 Nikola Tesla Elektronska industrija shares. Nikola Tesla has 77,002 shares with a nominal value of 500 dinars apiece listed on the Belgrade Stock Exchange.

(1 euro = 117.905 dinars)