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Serbia's Aqua Mont lifts stake in Hidrotehnika-Hidroenergetika to 77.6%

Ken Teegardin/CC BY-SA 2.0

BELGRADE (Serbia), September 13 (SeeNews) - Serbian company Aqua Mont Service has increased its stake in the capital of energy and hydropower facilities builder Hidrotehnika-Hidroenergetika [BEL:HDRT] to 77.6% from 70.1% as part of a buyout bid, Hidrotehnika-Hidroenergetika said.

Aqua Mont Service acquired 11,061 Hidrotehnika-Hidroenergetika shares, or 7.5% stake in the company's capital, the hydropower facilities builder said in a filing with the Belgrade Stock Exchange on Thursday.

Aqua Mont Service, owned by Serbian citizen Aleksandar Milosavljevic, launched the bid on August 13, aiming to acquire 44,137 Hidrotehnika-Hidroenergetika shares at a price of 1,119.38 dinars ($10.5/9.5 euro) apiece until September 2.

Hidrotehnika-Hidroenergetika is currently implementing projects in Serbia, Tunisia and Algeria. It has been operating at a loss since 2014. There has been no trading in Hidrotehnika-Hidroenergetika shares on the Belgrade Stock Exchange in the past three years.

(1 euro = 117.566 dinars)

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