March 5 (SeeNews) - Greek aluminium products manufacturer and trader Aluminco is launching a bid to squeeze out the remaining minority shareholding of 9.9% at its Serbian unit, Aluminco Sar, the Serbian company said.
Under the move, approved by the shareholders on February 26, Aluminco will buy the remaining 2,474 shares in its Serbian subsidiary it does not yet own at a price of 255.25 dinars ($2.36/2.18 euro) apiece, Aluminco Sar said in a filing with Serbia's central securities depository and clearing house on Monday.
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Aluminco controls 90.1% of the Sebian unit, divided into 22,592 shares, with local individual Milorad Paunovic holding the remaining 9.9%.
Aluminco Sar was established in Belgrade in 2001.
(1 euro = 117.203 dinars)