Bulgaria's Sopharma buys back 66,000 own shares
Adris, Koncar, Podravka boost Croatia’s share indices
Bulgaria's TPP Bobov Dol 9-mo cons net profit surges 142% y/y
Romanian stock indices start week in the green, Sphera shines
Romania eyes over 8 GW installed PV capacity by 2030 - president
Dec 13, 2017 14:51 EEST
December 13 (SeeNews) - The Serbian unit of German electronics and engineering group Siemens has signed a contract for the acquisition of local supplier of aluminium body parts for rail vehicles Milanovic Inzenjering, the Siemens subsidiary CEO said.
"We have signed the acquisition of Milanovic Inzenjering, but the deal is subject to regulatory approvals," Udo Eichlinger said in a video file posted on the website of Serbian news agency Tanjug on Tuesday.
You can subscribe to our M&A newsletter here
Siemens plans further investments and intends to increase its workforce in Serbia, in order to support the growth of Milanovic Inzenjering after the acquisition is completed, Eichlinger said on the sidelines of a business forum organised by the regional government of the northern Serbian autonomous province of Vojvodina.
"We do not buy a company just because we want to have it. We do not invest in concrete enterprises, but in business models," Eichlinger said in the video file.
In November, the Serbian unit of Siemens said it plans to acquire local supplier of aluminium body parts for rail vehicles Milanovic Inzenjering for an undisclosed sum. The acquisition of Milanovic Inzenjering, which has a workforce of 430 employees, will be completed in the beginning of 2018, as the transaction is subject to regulatory approvals, the company said back then.
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options