July 11 (SeeNews) - Serbian company Napred Razvoj has launched a mandatory buyout bid for 9,527 ordinary shares in Energoprojekt Industrija [BEL:EPIN], a unit of blue-chip civil engineering group Energoprojekt [BEL:ENHL], Energoprojekt Industrija said.
The mandatory bid was launched as Napred Razvoj's stake in the capital of Energoprojekt Industrija reached 95.17% in May, the company said in a filing to the Belgrade Stock Exchange on Wednesday.
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The owners of the 9,527 ordinary shares in Energoprojekt Industrija will be obliged to sell them to Napred Razvoj at a price of 2,784 dinars ($26.6/23.6 euro) apiece, equal to the price offered during the latest takeover bid launched by the buyer in April, Energoprojekt Industrija said.
Napred Razvoj increased the number of Energoprojekt Industrija's ordinary shares it owns to 187,783 from 125,490 as part of the takeover bid, lifting its stake in the company to 95.17% from 63.6%.
In August 2017, Napred Razvoj said it successfully took control of 52.1% of Energoprojekt's share capital after acquiring a 16% stake in the company for some 22 million euro ($25 million).
Energoprojekt Industrija's shares last traded on the Belgrade Stock Exchange on July 3, when 151 of them changed hands at a price of 2,700 dinars apiece, according to data from the bourse.
(1 euro = 117.752 dinars)