Kodar Inzenjering increases stake in Energomontaza to 80.2%

Belgrade-based Kodar Inzenjering bought over 33% of Energomontaza's shares in a Tuesday's transaction. On that day, turnover on the Belgrade Stock Exchange exceeded EUR 1 million after a long time.

Kodar already held a controlling stake in Energomontaza after acquiring 46.9 percent of the company's shares in May, on the basis of a takeover bid, at the price of RSD 4,200 per share.

On that occasion, the largest package of shares was sold by the state (the Share Fund and the Pension and Disability Insurance Fund).

When it comes to last week's transaction, Kodar Inzenjering acquired new shares at the price of RSD 4,500 a piece, which is the price that this majority owner will also have to offer to remaining shareholders in a takeover bid.