January 10 (SeeNews) - Serbian company Tiv Produkt said it plans to launch a takeover bid for the 42.9% stake it does not already control in TV equipment maker Nikola Tesla Elektronska industrija [BEL:NKTS].
Tiv Produkt aims 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 Tuesday.
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The buyer has the obligation to notify the Serbian Securities Commission of its takeover intention and apply for an approval for the launch of the bid in a period of 15 days following the stock market filing.
In a separate stock exchange filing on Tuesday, Tiv Produkt said it increased its stake in Nikola Tesla to 57.1% from 2.8% in a block deal carried out on January 5.
Tiv Produkt currently owns 43,981 Nikola Tesla shares. Nikola Tesla has 77,002 shares with a nominal value of 500 dinars ($5.0/4.2 euro) apiece listed on the Belgrade Stock Exchange.
(1 euro = 118.685 dinars)